🚨 Know the Facts: The Employee Retention Credit (ERC)

Your company may be eligible for a $26k per W2 employee refund per The CARES Act. Details enclosed.

Many companies are unaware of the Employee Retention Credit (ERC) allocation that was provided as part of the CARES Act when passed by Congress in March of 2020, and that’s why I’m reaching out to you, Esther; to share the details. If you're not the appropriate person, perhaps you could forward this email to them or let me know who I should contact to share with them the program details.   This federal program was created to help assist companies (to include churches and non-profits) in recovering from the financial impact of the pandemic for keeping W2 employees on their payroll during 2020 and 2021. It affords an opportunity to claim a portion of their payroll to be refunded back to them in the form of a check; up to $26k per W2 employee.   It is separate from the Paycheck Protection Program (PPP) and is a refundable tax credit paid by the IRS. It is not a loan and does not need to be paid back.   The ERC is quite complex, and even overwhelming to non-profits, schools, business owners, and tax professionals alike. The guidelines are over 200 pages long and have changed many times. In fact, if you checked your eligibility status in the past and were told you do not qualify, you may now be eligible. There are over 14,000 mandates nationwide.  Simply put, you want to work with a CPA professional who specializes in ERC, understands the rules and not some fly-by-night company. As a CPA with over 35 years’ experience and owning my own tax advisory firm, I have helped both profit and non-profit organizations claim their ERC.   While many companies believe they don’t qualify, this could be a very costly mistake. Most companies have suffered a more than nominal impact to their operations. More than nominal is defined as 10% or more. This could apply to a specific segment of your operations, a lack of supplies, adjustments, etc. Declining revenue is not a sole factor in eligibility.   To learn more about the ERC program before it ends and determine if your company is owed a refund, visit www.erc-facts.org. There is no obligation whatsoever, Esther, and not knowing the facts could be a costly mistake.   I hope this helps!   Sincerely, Sajeev Narayanan, CPA, ACA Heritage Consulting, LLC support@erc-facts.org (602) 644-1733

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