The Employee Retention Credit (ERC) is a fully refundable tax credit created in 2020 by the CARES Act to support businesses affected by the COVID-19 pandemic. This is not a loan and does not need to be paid back. The credit is worth up to $26,000 per employee for employers who meet certain qualification factors.
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To date, I have helped my clients secure over $20 million in ERC.
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If your business was negatively impacted by the covid pandemic, there is a high chance you qualify and you should explore this possibility further.
On average 80% of businesses qualify, If they had W-2 employees back in 2020 and 2021.
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You qualify even if you received PPP loan or other federal grants.
But unlike the PPP, this is not a loan, it is a rebate for keeping employees on payroll.
You don't have to pay it back. You will even receive the interest, which is due on your funds.
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I have helped local and out-of-state businesses get their payroll rebate funds from the IRS, whether they had 5 employees or over 100 employees, and they received from $70,000 to $1,900,000 of funds, which doesn't have to be paid back.
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Send me a message, it only takes 30 seconds.
Ivan Kirov - Accounting, Tax and Consulting
Greater San Diego , CA License No. 142107
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