Employee Retention Credit

Employee Retention Credit means the IRS could pay your qualifying company up to $26,000 per employee.

The ERC is a refundable payroll tax credit that can be as high as $5,000 per employee in 2020 and as high as $21,000 per employee in 2021.

Who qualifies for the Employee Retention Credit?

Employers that experienced partial shutdowns due to government orders limiting commerce, travel or group meetings; or that experienced significant declines in quarterly gross receipts (as compared to their quarterly gross receipts in 2019) due to the pandemic are eligible employers under this program.

What time periods are eligible for credit under the ERC?

Employers can claim the ERC for qualified wages paid in 2020, as well as Q1, Q2 and Q3 of 2021.

Until when can I apply for the Employee Retention Credit?

Deadline for the 2020 ERC is April 15, 2024
Deadline for the 2021 ERC is April 15, 2025

Do I have to pay back the Employee Retention Credit?

Not at all, the Employee Retention Credit is a fully refundable tax credit for eligible businesses. It is not a loan and does not have be paid back.

How do I apply for the Employee Retention Credit?

Numerica Accounting, LLC makes the ERC process simple for you. We handle all the paperwork while you focus on your business. Contact us for a free analysis.