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Accounting

Let us help you get the IRS Employee Retention Credit for your business.

Employee
Retention Credit

What is ERC?

The Employment Retention Credit is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that you can claim for your business. The ERC is available to both small and mid-sized for-and nonprofit businesses. It is based on qualified wages and healthcare paid to employees.

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Available for 2020 and 3 quarters of 2021, ERC is claimed on an amended quarterly payroll tax return (Form 941X). Once the IRS processes Form 941X, a check is issued to the taxpayer for the credit amount, plus interest. The statute of limitations for filing amended payroll tax returns is three years from the due date of the return,meaning, to apply for the Employee Retention Tax Credit for the 2nd quarter of 2020, the amended return needs to be submitted by July 2023. So, there’s still time to apply for the credit.

Businesses Do Not Have To Prove Loss of Revenue. 
In fact many businesses had a revenue increase and still qualified.

Some of the Impacts that Qualify your Business for ERC:

  • Change in business hours

  • Partial or full suspension of your operations

  • Shutdowns of your supply chain or vendors

  • Reduction in services offered

  • Reduction in workforce or employee workloads

  • A disruption in your business (division or department closures)

  • Inability to visit a client’s job site

  • Suppliers were unable to make deliveries of critical goods or materials

  • Additional spacing requirements for employees and customers due to social distancing

  • Change in job roles/functions

  • Tasks or work that couldn’t be done from home or while transitioning to remote work conditions

  • Lack of Travel

  • Lack of Group Meetings

ERC Advantages
ERC is a grant and NOT a loan!

  • Refunds range from $10k to $26k/per  W-2 employee

  • ERC is based on qualified wages and operational impacts inclined by government regulations toward COVID-19

  • Unlimited Funding- Unlike the PPP program, Congress has not established limits on ERC funding

  • If you have PPP you may still qualify-- Established by the CARES Act, ERC is a refundable tax credit that businesses can claim. Even if companies took a PPP loan, they can still qualify for ERC

How We Can Help...

We at Gibson Consulting have partnered to help more than 13,000 ERC customers claim over $2.1B in refunds. Whether you have 5 employees or 500 W-2 employees, we have experts that help businesses impacted by the Pandemic to maximize the ERC.

There are no upfront costs or fees to find out if you qualify or to apply. 

If you do not qualify or if you have already received your refund, we ask that you share this page with other business owners who may benefit from this information-- thank you.

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