Search for:
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer
Providing You Guidance to Innovate and Grow Your Business
Achieving Success When Selling to the World’s Largest Buyer

COVID-19 Guidance Center

Tax Implications and Financial Business Guidance Regarding the Coronavirus

Employee Retention Credit Tax Services

Expanded Employee Retention Credit (ERC) & how our professionals can assist you.

Federal Tax Reform: Opportunity Zones

Community Revitalization by Rewarding Private Investment

Services

Employee Retention Credit

shadow

Retaining Employees During the Pandemic

What is Employee Retention Credit?

The Employee Retention Credit (“ERC”) was introduced as part of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act to incentivize employers to retain employees during the pandemic by offering a refundable tax credit against employment taxes.

Who is eligible for the Employee Retention Credit?

Recently, the ERC was expanded and extended as part of the Consolidated Appropriations Act, 2021 (“the Act”) to include employers previously ineligible to claim the ERC, because they received loans under the Paycheck Protection Program (“PPP”), can now claim retroactive and current ERC benefits. Companies, tax-exempt organizations, colleges and universities, and entities providing medical or hospital care are now entitled to ERC benefits in 2021 if they experience a decline.

Also with the Act, the ERC rate was increased from 50 percent to 70 percent of qualified wages.

 

Download the Employee Retention Credit Brochoure

How Can We Help?

We utilize a proprietary ERC technology that allows automation and standardization of services connecting to pre-populated Government orders to efficiently calculate and document the credit benefits including:

  • Determine if the company is an eligible employer and coordinate with a company’s tax and other applicable internal departments
  • Use a proprietary technology allowing automation and standardization of services to efficiently calculate and document the credit benefits
  • Ensure no double-counting with other employment tax provisions
  • Assist with claiming the credit and support proper treatment for credits claimed

In order to best serve you, we offer both complimentary scoping activities for businesses who received PPP loans, and businesses that may have a decline of more than 20% in gross receipts as compared to their gross receipts for the same calendar quarter in 2019 to quantify estimated tax credit benefits.

For more information on eligibility requirements for the recently expanded Employee Retention Credit, please reach out to your local Cherry Bekaert professional today.

Let's Talk

Martin Karamon

Principal, Tax Advisory Services

Let's Talk

Let's Talk

Ronald G. Wainwright, Jr.

Credits & Accounting Methods Leader

Let's Talk

Related Thought Leadership

Featured Alert

Feb 23
Podcast

Employee Retention Credit for Law Firms Podcast

Learn More

Featured Video

play button
Feb 12
Webinar Recording

Panel Discussion: PPP Second Draw Loans & Employee Retention Cred...

Watch Now

Featured Alert

Jan 28
Podcast

Employee Retention Credit: What is It, Who Qualifies and How to Claim ...

Learn More

Featured Video

play button
Jan 14
Webinar Recording

2021 PPP Loans and Employment Tax Credits Webinar

Watch Now

Featured Alert

Jan 07
Article

2021 Employee Retention Credit Expansion

Read More

Featured Alert

Jul 21
Alert

Revised Form 941: Employee Retention Credit

Read More