Start typing and press Enter to search

Employee Retention Tax Credit (ERTC)

Take Advantage of the Latest Tax Incentive for Small Businesses

Schedule a Free Consult Now!

What is the Employee Retention Tax Credit?

The ERTC is a benefit under the federal COVID-19 stimulus plan where businesses can receive funding if they met certain conditions in 2020 and 2021. The ERTC was meant to encourage businesses to keep paying employees during the COVID-19 pandemic. It was initially passed under the CARES Act in March 2020 and was extended with changes to the rules under thConsolidated Appropriations Act in December 2020 and was extended again under the American Rescue Plan Act in March 2021.

The ERTC is an IRS-run program. Employers should work with organizations like Ahola to process their credit. Claims are based on employee wages paid during quarters in 2020 and 2021 when the employer is eligible. Employers could claim an Employee Retention Tax Credit (ERTC) of up to $26,000 per employee over 2020 and 2021. The funding is processed through credits on the payroll quarterly tax return, Form 941.

 

How does a Business Qualify for the Employee Retention Tax Credit?

If a business experienced a suspension or shut-down due to a governmental order due to COVID-19.

OR

If a business experienced a significant decline in gross receipts (at least 50% in 2020 and 20% in 2021).

 

Ahola's Covid Support Team spans our payroll and tax departments and assists our clients with processing Employee Retention Tax Credits (ERTC).

Many businesses have claimed an ERTC of up to $1 million. Even clients that have received other forms of pandemic aid, like PPP loans, have been eligible for the ERTC.

Restaurants
Manufacturing
Small Businesses
Seasonal Businesses
Manufacturing

Common Misconceptions about the Employee Retention Tax Credit

“My business does not qualify for the ERTC because we received a PPP loan in 2020."

This is FALSE. You can apply for the ERTC for the same year that you received a PPP loan, but you just can’t use the same wages for both PPP forgiveness and the ERTC.

 

“It is too late to apply for the ERTC. The deadline for filing an amended Form 941 for the ERTC was 12/31/2021.”

This is FALSE. The normal deadlines for filing an amended Form 941 for the ERTC are April 15, 2024 (for 2020) and April 15, 2025 (for 2021) *May differ for your company.

 

“I only have 6 employees. It is not worth it for me to apply for the ERTC."

This is FALSE. The potential credit amount for 6 employees in 2020 is $30,000 and the potential credit amount for 6 employees in 2021 is $126,000.

 

WATCH RECORDED WEBINAR

Employee Retention Tax Credit (ERTC)

March 29, 2022

Watch the latest recorded 10-Minute Tuesday Webinar, as we discuss the Employee Retention Tax Credit (ERTC). Our Covid Support Team spans our payroll and tax departments and has assisted, clients, with processing Employee Retention Tax Credits (ERTC) Paycheck Protection Program (PPP) Forgiveness, and COVID Sick and Leave Pay. Many businesses have claimed an ERTC of up to $1 million. Even clients that have received other forms of pandemic aid, like PPP loans, have been eligible for the ERTC.

Anne Bahr, Ahola's Covid Support Team Lead, brings you up to date with the pertinent details you need to know to claim the ERTC. 

In this webinar we:

  • Provide a high-level overview of the ERTC
  • Show comparisons of 2020 vs. 2021 rules
  • Reveal the true facts for common misconceptions about the ERTC
  • Share our best practices for claiming the ERTC
Download Slides
Download Q & A Document
Anne2

Anne Bahr
Operations Manager and COVID Support Team Lead

 

Schedule a Free Consult

Don't miss out! ​​​​​​​​Many businesses have claimed an ERTC of up to $1 million. Even if you received other forms of pandemic aid, like PPP loans, you are still eligible for the ERTC. Schedule a quick free consult to get your tax credit
in process ​​​​​​with Ahola’s Covid Support experts. During a short consult you will:

  • Learn more about the ERTC and how it works
  • See what you need to do to determine eligibility and calculate the credit
  • Find out how to submit the ERTC information to Ahola 

To get started, click on the button to schedule a free consult.  If you have questions, please contact us at COVIDSupport@ahola.com. Our team is here to assist you.

Schedule a Free Consult Now!