Does your Church or Business Qualify for the Employee Retention Credit?
- Get up to $26,000 per employee with the Employee Retention Credit (ERC)
- Up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021
- Churches and other Non-profit organizations are eligible (Clergy salary does not qualify)
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What is the Employee Retention Credit?
The Employee Retention Credit (ERC) is a fully refundable payroll tax credit given to employers. This program was established under The Coronavirus Aid Relief and Economic Stimulus Security Act otherwise known as the Cares Act in response to the COVID-19 pandemic. Your organization can obtain up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021. Even if you obtained a Paycheck Protection Program (PPP) loan your organization may still qualify.
If You Meet Any of the Below, You Qualify. You Do Not Need to Meet All Three!!!
- Businesses that were temporarily or permanently suspended due to government mandate
- Businesses in 2020 that had a gross receipts reduction of 50% or more compared to the same quarter in 2019
- Businesses in 2021 that had a gross receipts reduction of 20% or more compared to the same quarter in 2020
What wages may be used to calculate the ERC?
Employers may include up to $10,000 in qualified wages paid to non-clergy employees during the time period for which the credit is being claimed. Employer health plan costs can be included in ERC calculations for each eligible employee.
The following wages may not be included in ERC calculations:
- Emergency paid sick leave funded by the Family First Coronavirus Response Act.
- Leave taken under the Emergency Family Medical Leave Extension Act
- Employer payroll expenses covered by forgivable PPP funds
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