EMPLOYEE RETENTION TAX CREDIT

Discover if your business is qualified for an Employee Retention Tax Credit from the United States government.

What is the Employee Retention Tax Credit of the United States government?

The Employee Retention Tax Credit (ERTC) is a tax credit offered by the United States government to encourage businesses to retain their employees during the COVID-19 pandemic. 

The credit is available to businesses that have been affected by the pandemic and either partially or fully suspended their operations, or have experienced a significant decline in revenue.

The ERTC allows eligible businesses to claim a refundable tax credit of up to $7,000 per employee per quarter in 2023. The credit can be used to offset the employer's share of Social Security taxes, and any excess credit can be refunded to the employer.

To be eligible for the ERTC, a business must meet certain requirements, such as having experienced a significant decline in gross receipts, or having been subject to a government order to fully or partially suspend operations.

 Additionally, the credit is only available for wages paid after March 12, 2020, and before January 1, 2022.

The ERTC is administered by the Internal Revenue Service (IRS) and businesses can claim the credit on their quarterly employment tax returns. Discover if your business is qualified here https://portal.ertcexpress.com/qualify/alfred-uchendu-ertc