In order to provide economic relief to businesses and individuals during the Coronavirus pandemic, the CARES (Coronavirus Aid, Relief and Economic Security) Act was signed into law in March 2020.. This $570 billion stimulus package makes cash available to small companies, which can be used to allow certain employers who retain employees during the crisis, to claim a tax credit. This
tax credit is known as the Employee Retention Credit (ERC).


The ERC allows eligible employers to claim a credit against 50% of wages paid per quarter, up to$16,000 per employee annually, for wages paid between March 13, 2020 – December 31, 2020.. The maximum credit is $5,000 per employee In December of 2020, under the Covid-19 Relief Package, the ERC was extended from January 1, 2021 – December 31, 2023 and should be extended again before end of year. This extension allows eligible employers to claim a credit against 70% of wages paid per quarter, up to $16,000 per employee in 2020, with a maximum allowable credit of $28,000 per employee in 2021.


There are two major ways that a business can qualify :
1. Full or partial suspension or disruption of business operations as a result of government order
2. A significant decline in revenue compared to the same quarter in 2019. Decline in revenue is defined as equal or greater than 50% for 2020 and equal or greater than 20% for 2021.


Other Things that can allow you to qualify

  • Full shutdowns/ Partial shutdowns
  • Interrupted operations
    • Supply chain interruptions
    • Inability to access equipment
    • Limited capacity to operate
    • Inability to work with your vendors
    • Reduction in services or goods offered to your customers
    • Cut down in your hours of operation
    • Shifting hours to increase sanitation
  • Added costs for building barriers for safety etc.
  • and so many others….

To see if you qualify, download this quick form, fill it out and send it back to the email address on the page!


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