Find Your Specialist


Contact Us

Error: Contact form not found.

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


IRS and Labor Department Extend Worker Classification Program

The IRS and Labor Department have renewed a 2011 Memorandum of Understanding to cooperate on enforcement of worker classification rules, with cross-referrals, investigations and imposition of penalties on noncompliant businesses. The new Memorandum is significant because it signals that the…

build back better

House-Passed Tax Rate Changes But Still Includes New Taxes

The House passed the $1.75 trillion Build Back Better Act on November 19, 2021, and the legislation is now under Senate consideration. Known as H.R. 5376, the legislation is the second prong of President Biden’s social and economic policy program….

Privacy Overview

When you use or access the Site, we use cookies, device identifiers, and similar technologies such as pixels, web beacons, and local storage to collect information about how you use the Site. We process the information collected through such technologies, which may include Personal Information, to help operate certain features of the Site (e.g., to prevent online poll participants from voting more than once), to enhance your experience through personalization, and to help us better understand the features of the Site that you and other users are most interested in.

You can enable or disable our use of cookies per category.
Always Enabled