Guide to Employee Retention Tax Credits

Guide to Employee Retention Tax Credits

Do you qualify?

When the Coronavirus Aid, Relief, and Economic Security Act (CARES) passed in 2020, many small businesses focused immediately on securing Payroll Protection Program (PPP) forgivable loans. But there was another, less well-known program introduced in the CARES Act called the Employee Retention Tax Credit (ERTC), or the Employee Retention Credit. This refundable credit is available for employers who were impacted by the pandemic. It can be claimed when eligible employers file their quarterly federal employment tax returns. The rules have been amended twice since the CARES Act, resulting in more eligible businesses and higher potential credits.

Asure created this guide as a resource to help you determine whether your company is eligible to receive the ERTC and how to file for it. A high-level decision tree will help you work through many of the factors that can impact your ERTC decisions. We will examine the interplay of ERTC with other programs such as PPP and FFCRA paid leave. Finally, we’ll address five of the most common misconceptions and myths surrounding ERTC.

After reading this eBook, if you still have questions about identifying your qualified wages, calculating your credit, and filing returns, our ERTC Filing Service can help.

Content Outline:

• ERTC Basics

• Eligibility Rules

• Calculating the ERTC

• ERTC Decision Trees

• Optimizing Your Credit

• Tax Filings & Receiving Funds

• Top 5 Myths about ERTC

• Asure ERTC Filing Service

NOTHING IN THIS COMMUNICATION CONSTITUTES LEGAL OR TAX ADVICE OR A GUARANTY OF ELIGIBILITY OF AN EMPLOYEE RETENTION TAX CREDIT. ELIGIBILITY DETERMINATIONS RELATED TO THE EMPLOYEE TAX RETENTION CREDIT ARE THE RESPONSIBILITY OF THE EMPLOYER.

For complete details about ERTC, visit the IRS website here: COVID-19-Related Employee Retention Credits: How to Claim the Employee Retention Credit FAQs | Internal Revenue Service (irs.gov)