Was your business impacted by the pandemic?
The Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay their employees in spite of temporary business closures or revenue decreases brought on by COVID-19.
✓Available for 2020 and Q1-Q3 2021
✓Available to both small and mid-sized businesses
✓It’s a grant, not a loan
✓Up to $26,000 per employee
Watch this short video for insight into the ERC
You may be qualified for the ERC today!
Your business may be qualified to receive the Employee Retention Credit.
See how much you’re eligible for right away! Fill out our short ERC Qualification Questionnaire to provide the information we need to see if your business qualifies.
Who Qualifies for ERC?
A decrease in revenue over a specified quarter. For 2020, you need to show a decrease of at least 50% over any given 2019 quarter to make a claim for the ERC. For 2021, you simply need to show a 20% decline in revenue from the previous quarter or from the same quarter in 2019.
OR
“A Full or Partial” suspension or disruption of your business. Examples include social distancing capacity limitations, reduction in hours of operation, material shortages, supply chain disruptions, inability to hire, and inability to visit trade shows or clients or job sites. These must be directly or indirectly caused by state or local government restrictions or mandates.
OR
A New Startup Business. A business that (1) began carrying on a trade or business after February 15, 2020, (2) has average annual gross receipts that do not exceed $1,000,000, and (3) do not meet either of the other two criteria outlined above.
OR
A severely financially distressed company that experienced a decline in gross receipts of more than 90% compared to the same 2019 calendar quarter.
Hassle-free process
The ERC can be a very complicated calculation. No need to worry, our ERC experts will help you every step of the way!
erc experts
An experienced and skillful team of credit experts will handle all the calculations for you.
Why Quest ERC?
quality work
With our team, we can help you navigate the complexities of this tax incentive, saving you time and headaches.
maximum credit
Obtain the maximum tax credit for each employee within the confines of the ERC regulations.
Quest's responsibilities include but are not limited to:
• Working hand in hand with the client to assess their eligibility.
• Researching interpretations of the IRS ERC rules pertinent to client’s circumstances
• Develop and affirm strong positions that align with program intentions
• Preparing and documenting in detail the calculations for ERC.
• Gathering data and analyze payroll and health plan expenditures for inclusion in the employee retention credit.
• Checking for conflicts and excluding ineligible wages to family and wages used for Payroll Protection Program loan forgiveness
• Preparing the amended 941 returns (941x)
• Preparing a well-documented, audit ready set of workpapers supporting the ERC amounts / filings as written support in the event a client is audited.
Simple three-step enrollment process
Step 1:
Complete our ERC Qualification Questionnaire.
Step 2:
Wait for our call to confirm your business information and discuss your eligibility.
Step 3:
Receive your credit after you qualified!
Ready to Claim ERC?
Frequently Asked Questions
Below are our answers to your inquiries.
Your business could be eligible in one of two ways:
– It was fully or partially suspended due to a governmental order; or
– It experienced a significant drop in gross receipts
No. Wages paid to related individuals, as defined by section 51(i)(1) of the Code, are not taken into account for purposes of the ERC.
A “related individual” is defined in IRS FAQ #59.
You don’t need to worry to pay this back or keep records of how you used it. The funds are yours.
Any employee can be a qualified employee for the business if all other prerequisites like business eligibility, wages, and healthcare paid are met. An employee’s hire date has no impact on determining eligibility.
Unlike the PPP, tax refunds are unlimited. As issued by the US Treasury, anyone who qualifies and applies, will receive their credit.
First, you will have to provide information about business eligibility, location, employees, and salaries. It might take approximately two days for you to answer the on-screen questions and compile the payroll information.
Next, you will confirm all information, receive a fee estimate, make a partial payment, and submit the information to us. It usually takes 5 to 7 business days to process customer information and calculate ERC.
This new stimulus package allows businesses that already claimed the PPP to also claim the ERC.
The ERC is subject to income tax