ERC - Employee Retention Tax Credit
The Employee Retention Credits (ERC) were designed to help employers whose operations were suspended, either partially or fully, by a government order due to COVID-19,
OR had a significant decline in gross receipts,
OR began carrying on business after February 15, 2020.
ERC provides up to $5,000 per employee for 2020, and up to $21,000 per employee for 2021.
ERC is very different from PPP. While PPP was carried out via banks, ERC is a tax credit, which can be claimed via tax forms.
Dao CPA, P.C. was one of the first few CPA firms that studied the laws and assisted eligible businesses claiming the ERC refunds when they needed most.
The first round of ERC refunds arrived our clients' bank accounts in early May 2021.
Our Approach:
- We only take on cases that we can defend.
- We provide clients with documents that support the ERC refund requests.
- We assist clients with recording ERC adjustments, and advise clients to amend tax returns, when applicable.
Our Fees:
- Our fees for ERC are based on the complexity of the case and the work needed to perform the services. Our fees have been in the range of 1.5% -10% of the ERC refund amounts.
- There is a consultation fee to determine ERC eligibility for entities with common ownership.
Click here to see ERC Posts that we authored in 2021.
