ERC Program | Accelerated Retention

What is the Employee Retention Credit (ERC)?

The Employee Retention Credit (ERC) program, introduced by the CARES Act in 2020, is a refundable tax credit designed to encourage employers to keep employees on payroll during the COVID-19 pandemic.

This pandemic created extensive and disabling impacts on businesses as well as their owners and employees. These impacts were felt not only during the pandemic but in the impacts that rippled out long after.

Does Your Business Qualify?

There are a few key checkpoints to help you determine if your business may qualify.

Employer with less than 100 employes who paid qualified wages between March 12, 2020 and December 31, 2020.

Employer with less than 500 employes who paid qualified wages between January 01, 2021 and September 30, 2021.

To learn about additional details, we will be happy to give you a complimentary consultation with one of our ERC Specialists.

Businesses Who Filed for PPP May Now be Eligible for ERC as Well!

Where a business was once required to choose between either PPP (Paycheck Protection Proram) or ERC, modifications have been made by the IRS where a business many now be eligible for both programs.

To see if you qualify for ERC as well and to ensure you are not leaving behind money that could be due to you, simply contact us to speak with one of our ERC Specialists.

Some Common Questions – and Their Answers

What is the General Breakdown of a Refund that Could be Expected?

2020: Up to $5,000 per employee paid between March 12 and December 31, 2020.

2021: Up to $$7,000 per employee per fiscal quarter paid between January 01 and September 30, 2021.

Which Type of Employees Does This Include?

The ERC program pertains to full-time employees (FTE) who were paid while operations were wholly or partially halted due to COVID-19 restrictions as mandated by the government. An FTE is anyone who works (on average) 30 or more hours per week or at least 130 hours per month. See the IRS code in Section 4980H.

Do the Employee Retention Credits Have to Be Paid Back?

No! This is not a loan. It does not have repayment terms. This is a REFUND. However, if you receive a refund, you will need to amend your business income tax returns for the relevant year(s).

What is the Deadline to Apply for My ERC?

There are two deadlines, one for each of 2020 and 2021.

2020: The deadline for all quarters is April 15, 2024.

2021: The deadline for all quarters is April 15, 2025.

How Will I Receive My ERC Payment?

After the IRS processes and approves the claim, the IRS will mail a paper check via the USPS to the company’s address that is on file. It is vital that you submit the correct and current business address since these checks will not be forwarded.

How Will It Take to Receive My ERC Payment?

The processing time at the IRS ranges from four (4) to twelve (12) months for the checks to be issued for approved claims. It typically takes less time for those refunds under $80,000. Large refunds (over $250,000) may involve additional levels of examination that require more time.

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ARI phone number: 602.715.2120

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