Employee Retention Credit - What You Need to Know!

Did you know that it is possible for your nonprofit to get thousands of dollars back as a tax credit? The IRS is still giving out retroactive ERCs for 2020 and 2021 if you qualify.

ERC - What is it? 

The Employee Retention Credit (ERC) is a payroll tax refund from the United States Treasury Department for organizations who kept employees on payroll during the pandemic.

It’s not a grant or a loan—it's a tax refund!

There’s no interest to pay and funds are unlimited.

We have helped nonprofits receive up to $1,000,000 in tax credits! 

Do you qualify?

There are many determining factors that come into play when determining the amount you receive including payroll, number of employees. But mainly these are key qualifications for eligibility: 

• Revenues declined at least 50% in the last three quarters of 2020 compared to 2019.

• Revenues declined at least 20% in the first three quarters of 2021 compared to 2019.

If you received support through the Payroll Protection Program, you might still be eligible. 

What can you receive?

• For 2020 you can claim credit of up to $5,000 per employee annually depending on qualified wages paid to the employee.

• For 2021 you can claim credit of up to $7,000 per employee for any quarter prior to Sept 30, 2021 depending on qualified wages paid to the employee..

Want help? This can be a complicated process, but we are here to help. Let’s talk to see if you qualify!