Frequently Asked Questions
Learn More About ERC Relief
Have an ERC-related question? We have the answer! Check out our FAQs below to learn more.
How do I know if my business can receive ERC compensation?
Your business may be eligible to receive the ERC credit if COVID-19 has decreased your total gross revenues when comparing the affected quarter to the same quarter of 2019.
Additionally, you may be eligible if your local government body posted restrictions directly preventing business to be conducted as usual (i.e., temporary or permanent shut down, changing the hours of operation, and restricting group meetings).
Lastly, you must have more than three W-2 employees. For more information on the qualifications, give us a call today.
Can I receive ERC refund even if I have PPP loans?
Yes, you can still receive the ERC credit even if you have PPP loans. Give us a call today for more information.
Is ERC a loan that I have to pay back?
No, the ERC credit is an overpayment/refund from the IRS and not a loan. You do not have to pay this back. According to the IRS, the Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020 and before January 1, 2021. Give us a call today with any questions.
Is my business still eligible if I opened after the start of the Pandemic (March 2020)?
Yes, you would be considered a startup business and could still qualify for the ERC credit. If you need more information, feel free to contact us.
How do I qualify for the employee retention credit?
You may qualify for the ERC credit if your local government body posted restrictions preventing your business to be conducted as usual or if you had a temporary or permanent shutdown. You may also qualify if you had to change your hours of operation or restrict your group meetings. Give us a call for more information on the qualifications for an ERC credit.