What is ERC and Does Your Business Qualify?
Wed, Mar 15
|Virtual Event
Verify Your ERC Eligibility and Calculate Your Maximum Tax Credit If you retained employees through COVID shutdowns, your business could be eligible for a tax refund of up to $26k per employee.
Time & Location
Mar 15, 2023, 8:00 PM – 8:30 PM PDT
Virtual Event
About the Event
The Employee Retention Credit is a tax credit created by the U.S. government to encourage smaller businesses to retain employees during COVID-19 shutdowns and slowdowns. The ERC is a federal payroll tax credit for payroll tax periods in 2020 & 2021. In most cases, tax credits reduce the total amount of taxes owed. In the case of ERC, not only does it reduce your taxes owed, but if your taxes owed are reduced to zero, you are entitled to compensation above and beyond your original tax liability. If your business has previously filed 2020 and 2021 payroll taxes, you can retroactively claim the ERC to reduce your tax debt and, where applicable, receive a surplus credit, which can result in a cash refund.
Navigating the nuances of the Employee Retention Credit includes working through more than 170 pages of IRS documentation covering rules, required paperwork, and more. In short, it's…