What is the Employee Retention Tax Credit (ERTC)?




Find out if your Business Qualifies – For FREE – https://portal.ertcexpress.com/qualify/mrgtgroup

“Businesses have until April 15, 2024, to file amended returns for Q2, Q3, and Q4 of 2020, and until April 15, 2025,

to file amended returns for the quarters in 2021 in which they were eligible to claim the ERTC.”


The Employee Retention Tax Credit (ERTC) is a tax incentive program introduced by the U.S. government to encourage businesses to retain their employees during challenging economic times, such as the COVID-19 pandemic. The ERTC was initially created as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 and has been expanded and extended by subsequent legislation.

The ERTC allows eligible employers to claim a tax credit against their employment taxes for a certain percentage of qualified wages paid to eligible employees. The credit can be used to offset federal payroll taxes, including the employer’s share of Social Security and Medicare taxes. If the credit exceeds the employer’s payroll tax liability, the excess amount can be refunded to the employer.

To qualify for the ERTC, businesses must meet specific criteria, including experiencing a significant decline in gross receipts or being subject to a full or partial suspension of operations due to government orders related to COVID-19. The credit amount and eligibility requirements vary depending on the time period in which the wages were paid and the size of the employer.

It’s important to note that the ERTC cannot be claimed in conjunction with other COVID-19 relief programs, such as the Paycheck Protection Program (PPP) or the Shuttered Venue Operators Grant (SVOG). However, businesses that previously received PPP loans may still be eligible for the ERTC for wages not paid with forgiven PPP loan proceeds.

The ERTC has been updated several times, so it’s essential to consult the most recent guidance from the Internal Revenue Service (IRS) or a qualified tax professional to ensure compliance with the latest regulations and requirements.

Disclaimer: This information is based on the knowledge available up until September 2021, and it’s always advisable to consult official sources and seek professional advice for the most up-to-date and accurate information regarding tax matters.

Find out if your Business Qualifies – For FREE – https://portal.ertcexpress.com/qualify/mrgtgroup

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