The Employee Retention Credit (ERC) – sometimes called the Employee Retention Tax Credit or ERTC – is a refundable tax credit for businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic.
IRS WEBSITE |
| Employee Retention Credit | Internal Revenue Service (irs.gov)
The credit is available to eligible employers that paid qualified wages to some or all employees after March 12, 2020, and before January 1, 2022. Eligibility and credit amount vary depending on when the business impacts occurred. |
IRS FREQUENTLY ASKED QUESTIONS |
| Frequently asked questions about the Employee Retention Credit | Internal Revenue Service (irs.gov)
These frequently asked questions (FAQs) provide general information about Eligibility, Qualifying orders, Decline in gross receipts, Recovery startup business, Claiming the ERC, ERC scams, Recordkeeping and Timing. |
IRS TAX TIP |
| Learn the warning signs of Employee Retention Credit scams | Internal Revenue Service (irs.gov)
Information in this Tax Tip can be used in a newsletter or on your website. This tip promotes using a trusted tax professional. It also outlines the warning signs of scams and how promoters lure businesses into applying for the credit without verifying qualifications. |
PUBLICATIONS |
| Publication 5792, Small Businesses & Tax-Exempt Organizations: Beware of Tax Credit Scams!
Publication 5792 explains not to get conned and to use a tax professional to claim the ERC.
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2020 vs 2021 COMPARISON CHART |
| Employee Retention Credit – 2020 vs 2021 Comparison Chart | Internal Revenue Service (irs.gov)
The ERC has been amended three separate times after it was originally enacted. Add the comparison chart to your list of resources when reviewing ERC eligibility and qualifications. |
IRS SOCIAL MEDIA |
| Avoid Schemes Promoting the Employee Retention Credit – YouTube
This short YouTube video can serve as a commercial on your website. |