How MCM Can Help You Apply and the Employee Retention Credit (ERC) You Deserve
Want to know how you can get the Employee Retention Credit (ERC) that is rightfully yours because you kept your employees on the job during the COVID-19 pandemic? Keep reading and this article will tell how.
What is the ERC?
To reward businesses for retaining their employees during the pandemic, the CARES Act has introduced a generous Employee Retention Credit designed to incentivize continued employment.
Through the 2020 ERC Program, eligible employers can receive a generous refundable tax credit of up to 50% for every employee’s wages paid in between March 12th and December 31st – that’s an incredible $5,000 cash back per worker.
The 2021 ERC Program offers a remarkable opportunity for businesses, providing up to 70% of $10,000 in wages per employee or quarter, amounting to an incredible maximum of $21,000 over the course of 3 quarters! Don’t miss out on this amazing incentive.
All employers, no matter their size or sector, may be eligible to take advantage of this credit. Eligibility requirements vary depending on the number of employees and when certain wages were paid in 2020 and 2021.
How to Make Sure You Apply for the ERC Correctly?
You can apply for the ERC by yourself and these are the basic steps to take:
- The fundamental information about your business, including the type of employer that you are
- All your payroll information, including your 2020 W-2s and knowing your payroll service
- All PPP loan documents, if applicable
- All full-time employees’ information
- 2019-2020 sales revenue information
- Then complete the application
This may seem easy; however, did you know that if you incorrectly file your application your business can be denied what is legally yours? Also, if you do get approved for the ERC, you can be charged hefty fees if you are guilty of fraudulent claims. The Internal Revenue Service is asking whistleblowers to report on fraudulent claims utilizing the Employee Retention Credit, as so-called “ERC mills” continue to encourage applications for the tax credit from businesses that may not qualify for the pandemic relief program, which was available for 2020 and 2021, according to Accounting Today.
To ensure that you are applying correctly, be sure to get the assistance of a professional company that specializes in helping their clients with these and other tax credits. Don’t take your chances with trying to do this by yourself or hiring third parties who do not have the passion or experience. Each business has its own specific circumstances and needs, including yours.
What Does MCM-ERC Mean to Me?
You have the advantage when you allow McKenzie Chase Management (MCM) to apply for the ERC and other tax credits that are rightfully yours.
ADVANTAGE WITH MCKENZIE CHASE
MCM Secures your ERC of up to $26,000 in IRS payroll tax credits per employee
- 40 Years of experience means our expert WOTC consultants know how to fight for your tax credits.
- Financial risk is eliminated by McKenzie Chase Management’s policy of billing only on your success.
- Audit risk is dramatically reduced by the MCM ERC Back-up Package. The nations best back-up.
- Technology streamlines the process to eliminate any errors that might prevent a qualification.
- Excellent ROI makes working with McKenzie Chase Management a superior value.
Book a call discovery today and we will be happy to help you! Schedule online at
https://calendly.com/mc-mctr/15minroi or call us at 206.547.8277 to make an appointment.
