CARES ACT – EMPLOYEE RETENTION CREDIT: GOVERNMENT FUNDS TO BENEFIT SMB’s
Businesses with W2 employees can receive up to $5,000 per employee for 2020, and up to $28,000 per employee for 2021 ($7,000 per quarter).
The Employee Retention Credit (ERC) was created as part of the first COVID-19 stimulus package – CARES Act. With the two most recent stimulus bills, the ERC received substantial enhancements making it much more valuable for businesses affected by the pandemic. The revamped ERC opens up tremendous opportunities for businesses to significantly boost the amount of funds available to them through the federal government.
If you had payroll expenses at any time in 2020 and 2021, you need to have our experts at IPG review your eligibility for the ERC program. We will verify your eligibility, provide a thorough review of your payroll expenses, complete all the required IRS tax forms, and ensure you receive the funds due back to you quickly.