Take advantage of the employee retention credit

The CARES Act created the employee retention credit (ERC) to assist employers affected by the COVID-19 pandemic. The ERC was further expanded and modified under the Consolidated Appropriations Act in December 2020. With Congress completing the Infrastructure Investment and Jobs Act (Infrastructure Act) on November 5 — which is expected to be signed by President Biden soon — the expiration of the ERC was accelerated from Dec. 31, 2021 to Sept. 30, 2021 for most employers. Opportunities continue to exist for businesses to retroactively claim the ERC for prior calendar quarters.

Our tax credit experts can ensure you’re taking full advantage of the ERC. We’ll help you:

• Determine potential aggregated group membership.
• Review qualification under suspension of operations.
• Analyze gross receipts to determine if there was a significant decline.
• Advise on full-time employee determination.
• Account for acquisitions or dispositions.
• Devise a Paycheck Protection Program (PPP)/ERC-eligible expense optimization strategy.
• Quantify qualified wages and health plan expenses.
• Compute credit and advise on filing logistics.

When it comes to calculation and support, we can help you:

• Identify full or partial suspension of operations.
• Compute and support significant decline in gross receipts on a tax basis.
• Apply wage and health plan expense limitations.
• Assess overlap between PPP funding and eligible wages.
• Review records and uncover nonproductive employees.
• Compile, review, and compute retention credit.
• Deliver supporting calculation and documentation package.