Wait – Wasn’t the Credit Only Available Last Year?

You have until December 31, 2024 to apply. The Employee Retention Credit (ERC) was not widely used until March 2021, when updated IRS regulations made this type of COVID-19 Relief more accessible. In short: thousands of businesses who once picked between the Paycheck Protection Program (PPP) and ERC can now possibly use both, by amending their Quarterly Form(s) 941.

INDUSTRY CLIENT CREDIT TAX YEAR SIZE (2020 W-2 COUNT)
Single-location steakhouse $213,029.88 2020 56
Temp staffing firm $275,099.46 2020 326
Hair salon $107,792.22 2020 36
Multi-location sandwich shop franchisee $371,551.39 2020 312
Single-location pizza parlor $58,255.95 2020 26
Toilet manufacturer $252,104.88 2020 63
Church $30,782.22 2020 12
Gym $51,455.01 2020 16
ESL school, Non-profit $111,15.41 2020 25
Four-location hotel $620,416.7 2020 383
Home healthcare staffing firm $599,891.59 2020 195
Nutrition products distributor $1,152,330.98 2021 Q1 208
General contractor $364,283.71 2021 Q1 59
Four-location restaurant $528,340.66 2021 Q1/Q2 156
Field examinations $324,846.66 2021 Q1/Q2 30
Marketing graphics $50,954.46 2021 Q3 11
Environmental engineer $21,000 2021 Q1-Q3 2

How will the process work?

Once you’ve applied with ERC Today, the next steps are …

E-COMP – ERC Application

For more information, call (833) 566-2185, select option 2 to speak with an ERC Specialist.