Answers to Frequently Asked ERC Questions
- Who qualifies for the Employee Retention Credit (ERC)?
In order to be eligible for the ERC program, a company must meet either one of the following criteria, but not both: 1. Reduction in Revenue A reduction in revenue... - Do I still qualify if we already took the PPP?
The Consolidated Appropriations Act has provided a new opportunity for businesses to qualify for the Employee Retention Credit (ERC) even if they have already received a Paycheck Protection Program (PPP)... - Is the ERC and ERTC the same program?
Yes, the Employee Retention Credit (ERC) and Employee Retention Tax Credit (ERTC) are the same program. Both terms refer to a program established by the Coronavirus Aid and Relief Act... - How long will the ERC credit take to payout?
At this time, the Internal Revenue Service (IRS) is not providing any specific estimates for when the Employee Retention Credit (ERC) will be paid out. However, they have acknowledged that... - Can churches and other religious organizations qualify for ERC?
Yes, churches and other religious organizations may be eligible to receive the Employee Retention Credit (ERC). If they have been affected by government-mandated limitations on the number of people allowed... - Do I need an ERC advisor to claim the Employee Retention Credit?
While some internal accountants have successfully claimed the Employee Retention Credit without external help, we highly recommend seeking guidance from a professional ERC advisor. This is because the ERC credit...