How to Apply for & Receive Employee Retention Tax Credit (ERC) Money for your Small Business
If your company has less than 500 W2 employees and your business was fully or partially suspended due to orders from a government entity limiting commerce, travel, or group meetings related to your business, you may be eligible to receive Employee Retention Tax Credit (ERC) money from the US government.
If you get approved for ERC tax credit money you will get:
- Up to $26,000 per W2 employee.
- It's not a loan. You will never pay it back.
- These funds can be used for any expenses. Spend it however you want.
How the ERC tax credit program works
The Covid-19 pandemic hurt a huge number of businesses, many of which were either shut down or lost customers due to lockdowns and widespread fear of being in public spaces. This forced many businesses to reduce or even eliminate their employees on staff.
Because so many businesses were being hurt by the pandemic, Congress passed the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) to help keep small businesses going and to help prevent layoffs of employees. This set aside ERC tax credit money for small businesses harmed by the pandemic.
If your businesses suffered a drop in revenue in 2020 and/or 2021 due to orders from a government entity, you may be eligible for ERC money.
- It's not too late to claim your ERC money. The deadline is in 2024 for 2020 funds and 2025 for 2021 funds.
- You are not required to spend the money on anything specific. Spend it however you want.
- This is money for you to keep forever, not a loan. You never pay it back.
How You Can Claim the ERC Tax Credit for Your Business
So what are you waiting for? Now is the time for you to apply for ERC tax credit money that many other businesses have already requested and received. It costs nothing to apply and our partner has over a 96% success rate of getting approval and receiving funding of ERC tax credit money for businesses.