Employee Retention Credit Program

Businesses with W2 employees can receive up to $5,000 per employee for 2020, and up to $28,000 per employee for 2021 ($7,000 per quarter).

The Employee Retention Credit (ERC) was created as part of the first COVID-19 stimulus package. With the two most recent stimulus bills, the ERC received substantial enhancements making it much more valuable for businesses affected by the pandemic. The revamped ERC opens up tremendous opportunities for businesses to significantly boost the amount of funds available to them through the federal government.

If you had payroll expenses at any time in 2020 and 2021, you need to have our experts at KANE LAW GROUP review your eligibility for the ERC program. We will verify your eligibility, provide a thorough review of your payroll expenses, complete all the required IRS tax forms, and ensure you receive the funds due back to you quickly.


What is the Employee Retention Tax Credit (ERTC or ERC)?

The ERTC is a fully refundable payroll tax credit that was enacted as part of the CARES Act in March 2020.
In December 2020, the Consolidated Appropriations Act expanded the ERTC, allowing PPP borrowers to benefit from the ERTC retroactively. Then in March 2021, the American Rescue Plan Act established the Recovery Startup provision for companies that start a new trade or business after February 15, 2020.

How do I claim the Employee Retention Tax Credit?

To claim the ERTC, eligible employers report their total qualified wages on their quarterly employment tax returns (Form 941). Employers can also request an advance of the employee retention credit by submitting Form 7200.
For quarters that are filed timely, include Form 941. For past quarters, file Form 941-X. For companies that use a third-party payroll provider, some coordination with the payroll provider may be necessary.
The IRS has extended the audit window for this tax credit. Documenting your eligibility, qualified wages, and calculation is important.

Does the Employee Retention Tax Credit need to be repaid?

No, you do not have to repay the Employee Retention Tax Credit. However, if you receive an advance of the credits (Form 7200), you need to account for that amount when filing your federal employment tax return.

How long does it take to receive my refund check?

The IRS has a backlog of ERTC claims so it could take several months to receive your refund check.

How much time do I have to file the application?

We all know that government funded programs are subject to change. Do not delay; be sure to claim your spot in line and receive the funds rightfully owed to you.