Employee Retention Credit Qualifying Questions
The Employee Retention Credit (ERC) is a robust stimulus program created by the CARES Act. This program offers employers a significant refundable tax credit for retaining employees during the pandemic. The following questions only take a few minutes and will guide you through the process to determine if your business qualifies. It is essential that you read the questions thoroughly and answer them accurately. Please do not guess, estimate, or embellish. ERC Specialists utilizes your answers to determine which quarters we will file for on your behalf. Once submitted your responses cannot be changed.
If you qualify, we will send you a link to upload important payroll documentation, which will be required to precisely calculate your expected credit. Along with the answers provided in this questionnaire we then conduct a thorough analysis to determine your credit amount. Once your analysis is completed and approved, our team will process and file your return. You will be required to attest the information you provided is true and correct to the best of your knowledge.
Please have the following information about your business available before you begin the questionnaire
- Average number of full-time employees for 2019 – a full-time employee is considered someone that works 30+ hours per week.
- Gross receipts for each quarter of 2019, 2020 & 2021 (total deposits/sales not including PPP funds).
- Be ready to answer questions about government shutdowns that impacted your business. An example of a qualified shutdown would be If your vendors experienced shutdowns and you couldn’t obtain critical goods.