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Employee Retention Tax Credit Services

With the exception of PPP loans, the Employee Retention Tax Credit (ERTC) may be the largest small-business stimulus in the history of the United States. Don't leave money on the table! Schedule a consultation with an ERTC expert to find out how you can take advantage of this unique opportunity!

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What is the Employee Retention Tax Credit? 

The ERTC was first introduced as part of the CARES Act and included tax credits to help businesses with employee retention during the COVID-19 outbreak. The  ERTC is a refundable tax credit that can be claimed when eligible employers report their total qualified wages for purposes of the  ERTC for each annual quarter on their federal employment tax returns. Update: New legislation now allows employers to RETROACTIVELY obtain both a PPP loan AND claim the ERTC. 

  Coronavirus Aid, Relief, and Economic Security Act
(CARES - 3/27/20)		 Consolidated 
Appropriations Act
(CAA - 12/27/20)		 American Rescue Plan Act
(ARPA - 3/11/21)
PPP vs. ERTC PPP or ERTC, not both; CAA Amended to Both (no double-dip) Both (no double-dip) Both (no double-dip)
Company Size 100 or fewer employees 500 or fewer employees 500 or fewer employees
Who Qualifies Govt' disruption; or Reduction in gross receipts >50% same period 2019 Govt' disruption; or Reduction in gross receipts >20% same period 2019 Govt' disruption; or Reduction in gross receipts >20% same period 2019
Credits Available 50% of $10k wages/emp after March 12th, 2020 70% of $10k wages/emp/qtr Jan 1st through June 30th, 2021 70% of $10k wages/emp/qtr Jul 1st through Dec 31st, 2021

How Much ERTC Stimulus Can You Receive?

2020 Retroactive Credits

The 2020 CARES Act authorized an employee retention credit of 50% of $10,000/employee in eligible wages for qualifying businesses or $5,000 tax credit per employee. At first, businesses had to choose between PPP loans or ERTC credits - they could not obtain both. This changed on December 27, 2020, when the Consolidated Appropriations Act (CAA) was signed into law. The CAA expanded the  ERTC so that businesses who had received PPP loans could now retroactively also obtain employee retention tax credits, with the caveat being that they could not apply for ERTC with payrolls paid with PPP funds (no double-dipping).

2021 Credits

The Consolidated Appropriations Act (CAA) not only expanded the ERTC to businesses who had procured a PPP loan, it also extended it into Q1 and Q2 of 2021, and included greater benefits and new eligibility requirements. Then, the American Rescue Plan Act (ARPA) was signed into law on March 11, 2021 and extended ERTC through the end of the 2021 calendar year.

The 2021 credits total 70% of wages up to $10,000 per employee per quarter. The result is a credit of up to $7,000 per employee for up to four quarters in 2021 totaling $28,000.

How Can Inflection HR Help?

Current and prospective Inflection HR clients can add the ERTC filing service to their payroll service.  If your business is eligible for ERTC, we can help you review qualified wages, calculate your credits, and file amended payroll tax returns that allow you to claim your credits with the IRS.

Review-Qualified-Wages-1

Review Qualified Wages

With your payroll data, we will identify qualifying wages – including qualified health plan expenses.

Calculate-Credit-Amount

Calculate Credit Amount

We will calculate eligible ERTC wages - taking into consideration the dates of your PPP loan.
File Amended Returns

File Amended Returns

We will process the credits in our payroll system for audibility and file the necessary amended tax returns.

 

Get Started Today!

Not sure if you're eligible for the ERTC? That's understandable. PPP loans rightfully got most of the attention in 2020 and early 2021 with PPP 2nd-draw, so many companies don’t understand how the ERTC works, how much stimulus is available to them, and how to get claim what they're eligible for.

If you’d like help calculating ERTC wages and filing the required amended returns to get your stimulus, please complete the form and an Inflection HR representative will be with you shortly.

Get Help With ERTC