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    Employee Retention Tax Credit (ERTC)

    The Employee Retention Tax Credit (“ERTC”) was launched as part of the CARES Act to incentivize employers to retain employees during the pandemic by offering a refundable tax credit that can be applied against employment taxes. Subsequent legislation adjusted the rules surrounding employee retention tax credit including allowing companies that received PPP loans to qualify and extending the tax credit through December 31, 2021.

    If your company was significantly affected by the pandemic, you may qualify for ERTC. Frazier & Deeter helps companies every step of the ERTC process including qualification, documentation and reconciliation, as well as, following with new regulations. Learn more about ERTC eligibility and Frazier & Deeter’s and how Frazier & Deeter can help you.

    ERTC Eligiblity

    For 2020, the credit is computed at a rate of 50% of qualified wages paid up to a maximum of $10,000 of wages for the year resulting in a maximum credit of $5,000 per eligible employee.

    An Eligible Employer (including all members of a control group) must either: *

    1. Have their operations fully or partially suspended due to orders from a governmental authority OR
    2. Suffer a significant decline in quarterly gross revenue as measured against 2019
      • 50% decline for 2020
      • 20% decline for 2021

    For January 1st through June 30, 2021, the credit is computed at a rate of 70% of qualified wages paid up to $10,000 per quarter, resulting in a maximum credit of $7,000 per quarter per eligible employee.

    *Additional rules and limitations apply

    Frazier & Deeter’s ERTC Services

    • Determine if the employer qualifies, and if so, for which quarters
    • Determine which employee wages qualify
    • Calculate credits, including estimates for current and future quarters
    • Prepare form 7200 for the employer to submit to IRS to receive advances
    • After the quarter has ended, calculate the actual credits earned
    • Reconcile actual credits with advance credits requested
    • Prepare reconciled data for form 941
    Interested in ERTC Services? Reach out to our team today.

    Learn More About ERTC

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    Safe Harbor for Employee Retention Credit Limits Gross Receipts

    The IRS has issued a safe harbor allowing employers to exclude several sources of government support from their gross receipts calculation when determining eligibility for the Employee Retention Credit (ERC). In related guidance, the agency clears up important questions it…

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    How to Claim the Employee Retention Credit for 2021

    The IRS has issued guidance for employers claiming the Employee Retention Credit for the first two calendar quarters of 2021. The American Rescue Plan of 2021 allows eligible employers to claim a refundable tax credit against the employer share of…

    Copy of Whitepaper Header 2

    The Employee Retention Tax Credit: Offsetting Payroll Tax

      Update as of 03/12/2021 President Biden’s $1.9 trillion COVID relief bill also known as American Rescue Plan Act of 2021 (H.R. 1319) has become law and extends the Employee Retention Tax Credit (ERTC) through December 31, 2021.    The…

    Frazier & Deeter’s ERTC Services

    • Determine if the employer qualifies, and if so, for which quarters
    • Determine which employee wages qualify
    • Calculate credits, including estimates for current and future quarters
    • Prepare form 7200 for the employer to submit to IRS to receive advances
    • After the quarter has ended, calculate the actual credits earned
    • Reconcile actual credits with advance credits requested
    • Prepare reconciled data for form 941
    Interested in ERTC Services? Reach out to our team today.

    Learn More About ERTC

    shutterstock_1712082700

    Safe Harbor for Employee Retention Credit Limits Gross Receipts

    The IRS has issued a safe harbor allowing employers to exclude several sources of government support from their gross receipts calculation when determining eligibility for the Employee Retention Credit (ERC). In related guidance, the agency clears up important questions it…

    employee retention credit

    How to Claim the Employee Retention Credit for 2021

    The IRS has issued guidance for employers claiming the Employee Retention Credit for the first two calendar quarters of 2021. The American Rescue Plan of 2021 allows eligible employers to claim a refundable tax credit against the employer share of…

    Copy of Whitepaper Header 2

    The Employee Retention Tax Credit: Offsetting Payroll Tax

      Update as of 03/12/2021 President Biden’s $1.9 trillion COVID relief bill also known as American Rescue Plan Act of 2021 (H.R. 1319) has become law and extends the Employee Retention Tax Credit (ERTC) through December 31, 2021.    The…

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