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Learn more about the ERTC
Your Business Could Receive Up to a $26,000 Tax Refund Per Employee for 2020 and 2021
We have helped many types of businesses save millions of dollars.
If you had employees during the pandemic, it might be a good idea to seek counsel on your eligibility for the ERTC. Even if you have previously been told you don’t qualify.
Contact us now to schedule a free consultation to discuss your eligibility.
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Qualifying for the ERTC
Deciphering whether your business qualifies for the ERTC can be a daunting process. RJS LAW created this article to help you determine if 1) your business qualifies as an eligible entity to use this credit and 2) if your business paid your employees “qualified wages” during the pandemic. If your business qualifies, you may be able to receive thousands of dollars from the Employee Retention Tax Credit program.
Types of Eligible Entities
Under the original law, only operations which were either fully or partially suspended due to a COVID-19 lockdown order and had 100 or fewer employees in 2020, or 500 or fewer employees in 2021; or experienced any quarter in 2020 with gross receipts of less than 50% of the gross receipts for the same quarter in 2019, were eligible.
Enacted in 2021, new ERTC guidelines updated and greatly reduced the gross receipts reduction amount from 50% to less than 20% of gross receipts for the same quarter in 2019.
This change enables many businesses that previously did not qualify for an ERTC to suddenly become eligible to take advantage of this excellent credit. This includes businesses that received a Paycheck Protection Program I (PPPI) or (PPP II) loan.