Search for:
SBA 8(a) Business Development Program Consulting Services
Cybersecurity Maturity Model Certification (CMMC)
Providing You Guidance to Innovate and Grow Your Business
Government Contractor Consulting Services
Healthcare Industry M&A Report: What We Saw in 2021 and What’s Ahead
Cannabis Accounting, Tax & Business Advisory Services
Providing You Guidance to Innovate and Grow Your Business
Government Contractor Consulting Services
Providing You Guidance to Innovate and Grow Your Business
Government Contractor Consulting Services
General Data Protection Regulation (GDPR) for Higher Education Institutions
Government Contractor Consulting Services
2021 US Middle-Market Private Equity Report
Advisory, Accounting & Tax Services for Special Purpose Acquisition Companies (SPACs)
Risk Management Consulting Services for the Financial Services Industry
Government Contractor Consulting Services
Providing You Guidance to Innovate and Grow Your Business
Government Contractor Consulting Services
Providing You Guidance to Innovate and Grow Your Business
Government Contractor Consulting Services

COVID-19 Guidance Center

Tax Implications and Financial Business Guidance Regarding the Coronavirus

Transaction Advisory Services

Helping businesses navigate financial due diligence engagements and domestic and cross-border transactions.

Employee Retention Credit Tax Services

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

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 Brochure

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.

Related Thought Leadership
Mar 21
Alert

Guide to Employee Retention Credit for Medical & Dental Practices

Read More
Mar 18
Podcast

2022 Update on the Employee Retention Credit (ERC)

Learn More
Feb 10
Alert

Hotels and Restaurants Continue to Receive Cash Relief from the Employ...

Read More
Feb 02
Article

2022 Most Frequently Asked Questions about the Employee Retention Cred...

Read More
Jan 05
Podcast

The Impact of PPP Forgiveness and the Employee Retention Credit (ERC) ...

Learn More
Dec 08
Article

Infrastructure Bill Preserves the Employee Retention Credit for 2020 a...

Read More
Let's Talk

Martin Karamon

Principal, Tax Advisory Services

Let's Talk

Let's Talk

Ronald G. Wainwright, Jr.

Partner, Tax Credits & Incentives Advisory

Let's Talk

Brochures

What You Need to Know About the Employee Retention Credit

Find out more about Employee Retention Credit 2021 and 2020 eligibility, rules, filing & more....

Learn More