Don’t leave money on the table! If you qualify for the ERTC you may be eligible to receive up to $26,000 per employee!
An eligible employer is an employer that actively carries on a trade or business during calendar year 2020 or 2021, and meets one of the following two tests:
- Government Order Test: An employer qualifies if it experiences a calendar quarter in which the operation is fully or partially suspended due to a government mandate.
- Reduced Gross Receipts Test: An employer qualifies if it experiences a significant decline in gross receipts for any quarter in comparison to 2019.
- For 2020, a significant decline in gross receipts is defined as a decline in gross receipts of at least 50 percent in the second, third or fourth quarter.
- For 2021, a significant decline in gross receipts is defined as a decline in gross receipts of at least 20 percent in the first, second or third quarters.
If you started your business after 2019 – You may qualify as a recovery startup business and still be eligible for the ERTC. Contact our office to learn more.
Deadlines to file for ERTC:
- 2020 forms must be filed by April 15, 2024
- 2021 forms must be filed by April 15, 2025
The IRS has ordered an immediate stop to new Employee Retention Credit processing until at least January 1, 2024 amid a surge of questionable claims. Taxpayers can however, continue to file for the credit during this time.
If you think you may qualify, please feel free to contact our office or reach out to Louis Zampetti, CPA, BKC Principal in charge of Client Accounting Services, directly. We would be pleased to review your eligibility and file all the necessary forms to obtain your refund.