The Employee Retention Credit (ERC) is a government stimulus program designed to help businesses that continued to pay their employees during the Covid-19 pandemic lockdown.
Submit the following inquiry form so we can help you properly collect your Covid 19 Employee Retention Credit Federal grant.
Allied Capital Services is an expert in this type of work and successfully brokered Paycheck Protection Program (PPP) loans during the pandemic. These Small Business Association (SBA) loans were given by the federal government to help businesses keep their workforces employed. The PPP program ended in 2021 and the ERC has replaced it.
Allied Capital Services provides a team of certified public accountants (CPAs) to help businesses that qualify for the ERC fill out the applications quickly and efficiently with no upfront fees. We recognize we are communicating with business owners and we make every interaction a personal and efficient one. Our expert, professional team of CPAs has optimized the process to achieve maximum success in receiving an ERC credit and allows us to present a confirmed grant amount to a client within 12 days.
The Employee Retention Credit (ERC) is a refundable tax credit, which means it’s free money – a grant & not a loan. Created by the Coronavirus Aid, Relief and Economic Safety Act, better known as the CARES Act, the ERC aims to help small and mid-sized businesses affected by the pandemic.
Allied Capital Services helps businesses determine if they qualify for the credit, apply for the credit, and receive the maximum amount of money available.
Businesses may claim up to $5,000 per employee for 2020, and up to $7,000 per employee per quarters 1, 2 & 3 in 2021. The total amount that can be claimed for each employee is $26,000.
Eligible employers can claim the ERC from the Internal Revenue Service (IRS) on an original or adjusted employment tax return. The funds will come in the form of a check from the IRS.
The ERC is based on qualified wages and health care costs paid to employees. After new legislation in 2021, employers are eligible for an ERC even if they received a PPP loan, but not for the same wages. Wages reported as payroll costs for PPP loan forgiveness or certain other tax credits can’t be claimed for the ERC in any tax period.