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Employee Retention Tax Credit

What is the Employee Retention Tax Credit (ERTC)?

The ERTC is a vital part of the CARES Act, designed to support employers during the challenging times of economic hardship, such as the COVID-19 pandemic and other eligible disaster scenarios. This program allows eligible businesses to claim a tax credit for retaining employees and keeping them on the payroll. By doing so, businesses can offset a portion of their payroll taxes, providing much-needed financial relief during uncertain times.
At Resolve Law Group we are dedicated to helping individuals and businesses navigate the complexities of the Employee Retention Tax Credit (ERTC) program. In today's ever-changing economic landscape, understanding and capitalizing on available relief programs can make a significant difference for your financial stability and future success.

Understanding ERTC Eligibility and Benefits

Eligibility for the ERTC can be complex and ever-changing, requiring an in-depth understanding of the IRS guidelines and regulatory updates. At Resolve Law Group, our experienced attorneys have an up-to-date grasp of the requirements to help you determine your eligibility and maximize your potential benefits. Eligible businesses may receive a credit of up to $26,000 per qualified employee for wages paid during a specific period. We work to ensure you meet the eligibility criteria and receive the maximum benefit available under the program.

Why You Need an Experienced Attorney by Your Side

Navigating the intricacies of the ERTC program demands a thorough understanding of tax laws, compliance requirements, and the ability to interpret the fine print. Without knowledgeable guidance, you risk overlooking critical details, which could lead to missed opportunities and potential legal issues down the line.

Here's why you want an experienced attorney from Resolve Law Group on your side:

Expertise in ERTC Program Compliance

Our attorneys possess a deep understanding of the constantly evolving ERTC program regulations. We stay updated with the latest changes, ensuring you remain in compliance with the law while maximizing your credit potential.
By working with us, you gain access to legal professionals who know how to optimize the ERTC program to your advantage. We analyze your unique situation, structure employee wages strategically, and identify every available credit opportunity, thereby maximizing your benefits and potential tax savings.
ERTC claims often involve complex legal processes, documentation requirements, and potential IRS audits. With our legal expertise, you can feel confident that all necessary paperwork is filed correctly and promptly, reducing the risk of compliance-related issues.
Dealing with the ERTC program can be stressful, especially in times of economic uncertainty. Our experienced attorneys provide guidance and support throughout the process, giving you peace of mind and allowing you to focus on your business's core operations.

At Resolve Law Group, we are committed to providing expert legal guidance for the ERTC program. Our team of experienced attorneys is dedicated to helping you navigate the complexities of the ERTC program and secure the benefits you deserve.

FAQ's

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What is the Employee Retention Tax Credit (ERTC) program?
The ERTC program is a vital tax credit initiative established by the CARES Act to support businesses during challenging economic times. It allows eligible employers to claim a tax credit for retaining employees and keeping them on their payroll, providing much-needed financial relief during eligible disaster scenarios, such as the COVID-19 pandemic.
Can I still qualify if my business was profitable during the pandemic?
Yes. To qualify for the ERTC, you may only need to qualify for a single factor. Reduction in revenue is only one of those factors. To be sure, The Nominal Impact Test may be utilized to gauge other means of profitability which may be less clear than pure capital.
How does the ERTC program work?
Eligible businesses can claim a tax credit of up to $26,000 per qualified employee for wages paid during specific periods. The credit amount is calculated based on the percentage of qualified wages paid to eligible employees during the applicable time frame.
Who is eligible for the ERTC program?
Eligibility for the ERTC program is determined by various factors, including the size of the business, the impact of the disaster on the business operations, and whether the business experienced a significant decline in gross receipts. Our experienced attorneys can help you determine your eligibility and navigate the application process.
How many employees do I need to qualify?
To access the ERTC, there is no minimum number of employees a business must have. There is, however, a maximum number of employees. This number rose from 100 in 2020 to 500 in 2021.
Is the ERTC program related to the PPP (Paycheck Protection Program)?
No, the Employee Retention Tax Credit (ERTC) program is entirely separate from the PPP (Paycheck Protection Program). While both programs were established to provide financial relief to businesses during the COVID-19 pandemic, they operate independently. Unlike the PPP, which provides forgivable loans for certain expenses, the ERTC offers a tax credit for retaining employees and maintaining payroll.
I received PPP loans, do I still qualify?
Yes. As long as any funds from the PPP loans that were allocated to payroll expenses have been appropriately accounted for before starting the process of the ERTC, you will still qualify. This is covered by our tax attorneys in the initial analysis.
Why do I need an experienced attorney to assist with the ERTC program?
The ERTC program is complex, with stringent compliance requirements and ever-changing regulations. An experienced attorney can ensure that your business meets the eligibility criteria, properly calculates the credit amount, and submits the necessary documentation accurately and on time. With our legal expertise, you can maximize your benefits while avoiding potential pitfalls that could lead to compliance issues and missed opportunities.
Can Resolve Law Group help me with the ERTC program?
Absolutely! Resolve Law Group is your trusted partner in navigating the ERTC program. Our team of experienced attorneys specializes in consumer-based law and has a thorough understanding of the ERTC regulations. We are dedicated to helping you unlock your business's hidden tax savings, providing peace of mind and expert guidance throughout the process.

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