ERTC (Employee Retention Tax Credit)
At Unicorn, we understand the importance of managing your financial resources effectively. We specialize in helping businesses maximize government tax credits, particularly the Employee Retention Credit (ERC).
Our team provides expert guidance, simplifying the process of claiming tax credits and ensuring you get the most out of the ERC program. With our help, you can improve employee retention and strengthen your financial position.
What is the Employee Retention Tax Credit?
The Employee Retention Tax Credit (ERC), part of the CARES Act, was created to encourage businesses to retain their employees during the COVID-19 crisis.
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2020 ERC Program:
Eligible employers could claim a refundable tax credit of 50% of wages paid to each employee, up to $10,000 per employee. This credit covers wages paid between March 12, 2020, and December 31, 2020, offering up to $5,000 per employee. -
2021 ERC Program:
The credit increased to 70% of wages, up to $10,000 per employee per quarter, for the first three quarters of 2021. This means businesses could claim up to $21,000 per employee.
Who Can Qualify for the ERC?
You may qualify for the ERC if your business meets any of these criteria:
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Partial or Full Business Suspension:
Your operations were partially or fully suspended due to federal or state COVID-19 mandates affecting commerce, travel, or gatherings. -
Significant Revenue Decline:
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A 50% drop in gross receipts in any quarter of 2020 compared to the same quarter in 2019.
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A 20% drop in gross receipts in any quarter of 2021 compared to 2019.
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Recovery Startup Business:
Businesses started after February 15, 2020, with average annual gross receipts under $1,000,000 and that don’t meet the above criteria.
How the Process Works
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Apply: Start by filling out a form to check your eligibility.
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Upload Documents: Securely upload the required documents to our platform.
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Eligibility Review: Our experts will review your information, estimate your potential credit, and provide a timeline for your claim. (No fee if no credits are claimable.)
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Submission: We prepare and file your claim with the IRS using secure technology.
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Reimbursement: Once the IRS processes Form 941X, you’ll receive a refund for qualifying payroll taxes paid in 2021 and 2022.
Why Choose Global FPO for ERC?
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Experienced Team: Our professionals have a deep understanding of the ERC program and stay updated on the latest rules and regulations.
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Customized Services: We tailor our solutions to match your business needs, ensuring maximum credit potential.
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Accurate and Efficient: We focus on precision, minimizing errors and audit risks while maximizing your credits.
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Proactive Advice: Beyond claiming credits, we provide guidance to help you optimize your operations and workforce.
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Peace of Mind: Let us handle the complex ERC process while you focus on running your business.
Claim Your ERC Today
Unlock the full potential of the Employee Retention Credit with Unicorn. Contact us now for a free assessment to check your eligibility!