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What is ERC?
ERC is a business tax credit. It stands for “Employee Retention Credit” designed by our U.S. Government to reward businesses who retained employees during COVID-19 slowdowns & shutdowns. Refunds are most often received as a check from the US Treasury. Even if your business received the PPP loan, you can still qualify for your ERC refund!
No Upfront Fees
Check to see if you quailfy. It doesn’t affect your business just to see if you have money that your company has earned.
This is Your money!
Unlike PPP & other small business loans, ERC does not need to be repaid…Simple put, it’s not a loan.
Use The Money However You Want
Use your refund for everyday operating expenses, inventory, hire & retain employees, pay off debt, or anything else not mentioned. It’s your choice… It’s YOUR MONEY!
DID YOU KNOW…
Most small business impacted by COVID don’t know that they quailfy for the Employee Retention Credit.
Up to $26,000 per employee
No limit on funding
ERC is a payroll tax refund (not a loan)
We Have Already Helped Recover $3B+ for Businesses Like Yours
The PW Network
“You guys are the REAL DEAL! THANK YOU FOR BRINGING US BACK TO LIFE!”
Shan’s Wrap Shack & Caribbean Flavors
“We had NO DOUBT that your team could help us!”
“We had no idea that we qualified for the ERC! Thank you so much for what you have done for our company!”
Phenomenal Nation LLC
“This company is LEGIT!”
“My CPA knew of the ERC but had no knowledge on how to process the paperwork. You guys made it easy for us and we were able to us use CPA to handle some of the paperwork! Thanks guys!”
“OMG! I didn’t know that we had a refund coming! All we did was filled out the infomation and they did the rest! This company is the REAL DEAL!”
Frequently Asked Questions (faq)
What Is the Employee Retention Credit (ERC)?
It is a government tax credit available to employers who experienced financial hardship due to COVID-19. The ERC is a refundable tax credit equal to 50% of the qualified wages paid by an eligible employer. To be eligible, an employer must have experienced a decrease in revenue or disruption in business due to COVID 19 (which almost every experienced). The credit is available for wages paid from March 13, 2020 through December 31, 2020. For the 2021 program, the credit is increased to 70%, and the limit is $10,000 per quarter. This means the annual maximum for an employee is $26,000.
Who Is Eligible for Employee Retention Credit?
The ERC is available to any employer—including non-profits, regardless of size—that has experienced either a full or partial shutdown of operations due to a governmental order related to COVID-19, or has experienced a decline in gross receipts.
Can I Still Apply for ERC in 2022?
The employee retention tax credit (ERTC) is available to qualifying employers for the last three quarters of 2020 and the first three quarters of 2021. The employer’s tax return for the second quarter of 2020 was due July 31, 2020. This means that we can amend these returns and request a refund until July 31, 2023.
How Is ERC Different From PPP?
The Paycheck Prevention Program was a forgivable loan from the government that you had to apply for and were granted based on your credit history and borrower status. The Employee Retention Credit (ERC) returns the payroll taxes that you have already paid and thus it is yours to claim, regardless of your borrower or credit worthiness. Once you receive the funds you do not have to pay them back or take any more action.
Why Is This The First Time I'm Hearing About The ERC?
Why Can't My CPA/Bookkeeper Do This For Me?
How to Qualify for ERC in 2022?
There is still time to apply for the ERTC tax credit in 2022. The credit is no longer available for current claims, but you can claim it retroactively by amending your employment tax returns. The IRS lets you amend returns and claim refunds for up to three years after the filing deadline. That means the deadline for claiming the ERTC is three years after the original due date for the tax return. It’s important to note however that the IRS is likely to end the program when they run out of funds so having us start this process immediately is imperative to securing your refund before it’s too late.
Is the ERC Credit Taxable?
The answer is no, but it does impact your income tax return. The benefits of receiving the credit far outweigh its effect on your taxes.
How Much Does It Cost?
The initial analysis to determine your eligibility and approximate credit is completely free. If you file for an ERC with us, our fee is a small percentage of the credit once it has been received.
How Will I "Use" a Tax Credit?
This program is not an “income tax credit” and not related to your annual business tax returns or your profit/loss from the business. Although it is called a tax credit, it is most frequently received as a cash payment (typically in the form of a check) from the IRS. You may also use it to offset future payroll tax payments.
What If I Own Multiple Businesses?
Perhaps the most complicated aspect of the ERC program, separate businesses under common ownership that meet IRS Controlled Group criteria must be evaluated together for eligibility. If the tests are passed, all entities are eligible; if not, none are eligible. The ERC is then calculated and filed for each separately. If you apply through us we can easily walk you through this entire process and make sure you’re filing forms in a way that is most beneficial to you.
How Long Will It Take To Get My Refund?
Is ERTC and ERC the Same Thing?
Yes, ERC stands for ‘Employee Retention Credit’, also known as the ERTC ‘Employee Retention Tax Credit.’ This program was created by the Coronavirus Aid and Relief Act in 2020 to help businesses keep employees on their payroll. Both Employee Retention Tax Credits (ERTC) and Employee Retention Credits are refundable tax credits.
Diva Geeks and its partners has helped small & medium-sized businesses recover close to 1 $Billion Dollars in ERC Refunds. Our team puts in meticulous work to make it easy for your business to recover the funds. Our team consist of Business Lawyers, trained ERC CPA Specialist, along with Innovative Software to help get the job done! Click the button below to see if you qualify.
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