Employee Retention Tax Credit (ERTC or ERC) What is the Employee Retention Credit? The employee retention tax credit (ERTC or ERC) is available to all businesses (including non-profit) with less than 500 Employees that have been negatively impacted by Covid-19. If qualified, businesses can claim a credit against the wages, and healthcare costs paid per quarter, and may receive a credit, in the form of a check, for up to $5,000 per W-2 employee for 2020, and potentially up to $21,000 per W-2 employee for 2021. To be eligible, your business must have been negatively affected by the COVID-19 pandemic. Self-employed persons and government employers are not qualified for ERTC. This impact can be identified by either; 1) The business’s operations were fully or partially suspended due to a government order limiting commerce, travel, or group meetings. 2) A 50% reduction in gross receipts in any quarter in2020 in comparison to the same quarter in2019, or a 20% reduction in gross receipts in any quarter in 2021 as compared to the same quarter in 2019, or the previous quarter. 3)New Businesses, if operations commenced after Feb 15th, 2020, and if revenues are less than $1 million annually The IRS also has a webpage dedicated to the operation of the ERTC with examples of qualifying situations. How do businesses determine eligibility and obtain the ERC?If you have at least three W-2 Employees, our partner will perform at no charge an initial review to determine your eligibility. Should it be determined that you are eligible and choose to engage with them, they will perform an in-depth analysis, including relevant financial and payroll records to maximize the amount of credit the businesses may qualify for. They will also complete and file all relevant IRS forms on behalf of the eligible business and provide the analysis study with all relevant backup documentation. Next Steps Contact us to complete a simple initial application to evaluate your eligibility. These products are offered by Sage Profit Recovery, LLC through a Strategic Partner on a referral basis. Sage Profit Recovery, LLC has no control over the Partners procedures and/or approval processes and assumes no responsibility or liability in the transaction. This does not constitute in any way any type of a qualification for the program(s) and/or a commitment to fund.