Answers to Frequently Asked ERC Questions
- What is the Employee Retention Credit (ERC)?
The Employee Retention Credit (ERC) is a tax credit offered by the IRS to assist small businesses in retaining their employees during challenging economic conditions. The Employee Retention Credit (ERC) provided by... - Can I still apply for ERC in 2023?
The short answer is yes. The Employee Retention Credit (ERC) is available to qualifying employers for the last three quarters of 2020 and the first three quarters of 2021. The... - Do I have to physically shut down locations to be considered impacted by government orders?
It is a common misconception that a company must be fully shut down for it to be considered impacted by government orders. In reality, to determine if a company is... - Do I have to repay the ERC Credit?
The short answer is no. The Employee Retention Credit (ERC) is a benefit offered to eligible employers that allows them to claim a fully refundable tax credit against certain employment... - Will the ERC funds run out?
No, there is no concern that the funds allocated for the Employee Retention Credit (ERC) will be depleted. This program is not based on a lending system, but rather the... - How much ERC preparation and filing services cost?
The cost of ERC preparation and filing services can vary depending on several factors. One of the main factors is the size of your business, specifically the number of employees...