Nationwide Employee Retention Credit FAQ (ERC)

ERCN has launched a Business
Relief Division to help businesses
impacted by Covid-19 by Maximizing
the Employee Retention Credit (ERC)
Program.

So, what is Employee Retention Credit?

● Employee Retention Credit (ERC)is a stimulus program designed to help
businesses that were able to retain their
employees during the Covid-19 pandemic.
Established by the CARES Act, it is a
refundable tax credit – a grant, not a loan –
that your business can claim.

● ERC is based on qualified wages and
healthcare paid to employees.

Significant Returns
Up to $26,000 per employee
6-10K per W2 if PPP 1&2
10–15K per W2 if PPP1
15-26K+ per W2 if NO PPP

Multiple Years Available
Available for 2020 & 2021

Government Funds Available
No limit on funding

Many Ways to Qualify
Qualify with decreased revenue OR
partial/full shutdown of business
operations

How do you know if a business is eligible for Employee Retention Credit (ERC)?

Even if your business did not have a revenue reduction or was deemed
essential…. You can still qualify for ERC!

Change in business hours ❑
Partial or full suspension of your operations ❑
Shutdowns of your supply chain or vendors ❑
Reduction in services offered ❑
Reduction in workforce or employee workloads ❑
A disruption in your business (division or
department closures)

❑

Inability to visit a client’s job site ❑
Suppliers were unable to make deliveries of
critical goods or materials

❑
Additional spacing requirements for employees
and customers due to social distancing

❑
Change in job roles/functions ❑
Tasks or work that couldn’t be done from home or
while transitioning to remote work conditions

❑
Lack of Travel or Lack of Group Meetings ❑

 

Click Here to Learn More About ERC

 

Most Relevant Industries for ERC

• Bars
• Car Washes
• Contractors and Construction Companies
• Dry Cleaners
• Food and Beverage Wholesalers
• Electricians
• Franchisees
• Cannabis

• Gyms
• Churches & Religious Organizations
• Healthcare Providers
• Hotels
• Moving Companies
• Restaurants
• Retailers
• Senior Living and Retirement Communities
• Sports Facilities

Here are some important points to consider Employee Retention Credit (ERC) for your business:

Employee Retention Credit FAQ

1. If companies received PPP, they still qualify for ERC.
2. ERC is a refund in the form of a grant and can return up to $26,000/employee
($10,000 is the average for companies that received PPP)
3. Companies don’t have to prove loss of revenue; operational impacts qualify as
well.
4. With our Employee Retention Credit program, ERC Nationwide is assisting companies recover taxes and
wages they have already paid on their W2 employees.
5. Since the start of ERC, ERC Nationwide has filed thousands claims on behalf of
small businesses with plans to recover over $1 billion.
These articles will provide additional background on recent developments with the ERC
program:
● IRS Extension
● IRS Eligibility
● IRS ERC & PPP
● Infrastructure Bill article
● IRS Website

 

I hope you were able to learn from this Employee Retention Credit FAQ .

To Learn more and to see if you are eligible CLICK HERE