Employee Retention Credit

Billion dollar stimulus package providing funding to small businesses who retained their employees during the crisis. Let's us Maximize your refund!

What is the Employee Retention Credit?

The Employee Retention Credit (ERC) was created by the CARES ACT of 2020 to provide relief to businesses who were adversely affected by the Coronavirus Pandemic. This Billion dollar stimulus package provides funding to small businesses who retained their employees during the crisis. The ERC was improved and extended by both the Consolidated Appropriations Act of 2020 and the Covid-19 Relief Package of 2021. Our team assists in determining eligibility for the ERC and does all of the relevant calculations and filings to help our clients maximize the amount of funding available.

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Maximizing your Employee Retention Credit with NUR's Refund Professionals

NUR’s experienced auditing team has been delivering millions of dollars in refunds to organizations across the country through various services, including the employee retention credit, “ERC.” Service solutions of this magnitude have been conducted by National Utilities Refund for years. Workers Compensations Audits, R & D, Manufacturing and Tax Credit Audits, State Sales and Use Tax Audits, and Personal Property Tax and Real Estate Audits. In 2020, NUR extended client service offerings to the Government Tax Credits that became available through the CARES Act (Coronavirus Aid, Relief and Economic Security Act).

This service, although new and provided for the very first time in the country in 2020, it was a natural fit for National Utilities Refund because of our history of conducting various tax incentive and worker compensation premium audits. Our team has the expertise in our existing experienced accounting staff and CPA’s in place who know and understood how to interpret those new statutes that regulate the Employee Retention Credit model as well as the Paycheck Protection Program (PPP) program. Our team was already prepared and properly attuned to these new opportunities while so many other accounting organizations were learning about employee payroll standards methods and models.

Inject Cash into your Organization with the Employee Retention Credit

How much can I recover from the Employee Retention Credit?

For 2020, the ERC provides a fully refundable credit of up to $5,000 per employee for businesses with 100 employees or less. Employers with between 101 and 500 employees can still qualify for the credit, but only on wages paid to employees NOT to work.

For 2021, the ERC provides a fully refundable credit of up to $7,000 per employee for each qualifying quarter in 2021, and the employee count threshold was increased from 100 to 500. Employers with more than 500 employees can qualify, but only on wages paid to employees NOT to work.

The credit is currently available for the first three quarters of 2021.  In total, an employer can received up to $26,000 ($5,000 + $7,000 + $7,000 + $7,000) per employee for the years 2020 and 2021.

The ERC recovered amounts listed above are the maximum recovery per eligible employee.  The ERC will vary based on the number of full-time employees, amount of qualified wages, and if your organization received PPP funds.  If you received PPP funds, you still may be eligible to receive a reduced employee retention credit.

How we provide value

  • Determine Eligibility Our experienced auditors will review and determine your organizations eligibility for the employee retention credit within a few days after receiving all of the necessary documentation
  • Maximize Your Credit Our tax professionals will review the relevant financial records to calculate the dollar amount of the eligible employer’s expected credit. Our team will then complete and file the relevant forms for the employer and retain all the necessary documentation.
  • Zero out-of-pocket Costs We do not charge an upfront fee for this service. Financial compensation to our tax team only occurs after the eligible employer receives their credit, which will be issued as a check.

Some of our ERC Success

  • $310,000- Restaurant Owner in PA
  • $910,000-  Restaurant Franchise Owner in AR
  • $110,000-  House of Worship in DC
  • $68,000- Bar/Tavern in NC
  • $1,600,000- Manufacturing in PA

Who Qualifies for the Employee Retention Credit?

ERC Qualifiers

Organizations with less than 100 full-time employees in 2020 and/or less than 500 full-time employees in 2021 must meet one of the two requirements below to qualify for ERC. Organizations with more than 500 employees can only claim the ERC for wages paid to employees for the time they are not providing services

  • Curtailment of Operations
    • Full or partial suspension of business operations as a result of government order or;
  • Significant Decline in Gross Receipts
    • 2020 – Decline in gross receipts defined as 50% or greater than their gross receipts in the same quarter of 2019.
    • 2021 – Decline in gross receipts defined as 20% or greater than their gross receipts in the same quarter of 2019

Common Qualified Industries

  • Restaurants
  • Bars/Taverns
  • Gyms/Fitness Centers
  • Amusement Parks
  • Movie Theaters
  • Museums/Entertainment
  • Nursing Facilities
  • Retail Stores
  • Malls/Markets
  • Houses of Worship
  • Non-profit Organizations
  • and many more…

*The ERC is NOT industry specific but some industries are more likely to qualify than others.

Our Process:

  • Provide basic information about your organization to determine eligibility for the ERC
  • Upon initial review, additional documents can be uploaded via a secure Dropbox link for our CPA’s to review
  • Once all of the required documents have been uploaded, our tax team will calculate the maximum employee retention credit within 7-10 business days.
  • You will be presented with an ERC report, detailing the amount owed to your organization
  • All of the necessary documentation is prepared and filed by our CPA team
  • The ERC will be issued as a check to your business within 120-180 days, on average
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What will this cost?

NUR’s Employee Retention Credit audit is performed at zero out-of-pocket costs.  Our team will handle everything from start to finish and we will simply share in the financial benefit we achieve for you after you receive the check. No risk. No obligation.

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FAQ about Employee Retention Credit

How long do I have to file for the Employee Retention Credit?

We recommend filing for the ERC as soon as possible. Funds are allocated for the tax period of 2020-2021 and we have a 36-month statute of limitation to recover this money for your organization. With this in mind, the 2020 ERC will be unrecoverable in 2023 and the 2021 ERC will be unrecoverable in 2024.

Can I still receive the Employee Retention Credit if I received money from PPP round 1 & 2?

Yes!  Through the COVID 19 Relief Package (2021), beginning January 1, 2021 and through December 31, 2021, employers who received PPP loans may still qualify for the ERC with respect to wages that are not paid for with forgiven PPP proceeds retroactive to the CARES ACT.

Is the Employee Retention Credit a loan?

The ERC is not a loan nor does it have to be repaid.  The ERC will be issued as a check so you can inject cash into your business immediately.

Do I have to spend the ERC on employee wages?

No. Unlike the PPP programs, you may spend the ERC as you please. There are no restrictions on how these funds are used.