ERTC Eligibility 2022: 5 Surprising Ways to Qualify up to $26,000 per Employee

Steven·September 22, 2022·0 comments

Was your business impacted by COVID? If so, you might qualify for a little-known tax credit up to $26,000 dollars per employee.

Take this 2-minute quiz to learn about your ERTC eligibility.

That means a business with 10 employees may qualify for a tax credit of $260,000. 

You see back in March of 2020 when COVID first hit, the CARES Act passed providing stimulus to small businesses in one of two forms: either small businesses could take a forgivable PPP loan or they could apply for the employee retention tax credit, ERTC. But not both. 

Most businesses chose PPP loans. However, on December 27th of 2020, Congress also passed the Consolidated Appropriations Act which introduced the second round of PPP and made two really important changes to ERTC.

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First, the new law said you could retroactively apply for ERTC. And second, you could do so even if you took PPP funds. That means the small business could have a forgiven PPP loan and still retroactively apply for ERTC. 

The problem was the second round of PPP loans grabbed all the attention in the news and the good story about ERTC got buried, leaving hundreds of thousands of small businesses unaware  they may be eligible for the largest employer tax  credit in our country’s history. 

And many more businesses qualify than you may think. If your business was impacted by

  • shutdowns, 

  • curfews, 

  • social distancing requirements, 

  • an inability to meet with customers, or 

  • disruption in your supply chain,  

you may qualify and that’s all good news.

The bad news is calculating the qualifying payroll, wages, and filing the necessary tax returns to get these credits is complicated. 

But with over 90,000 small business payroll clients, calculating compliant payroll and filing employer taxes is what Asure is great at.

Asure’s ERTC tax filing service will calculate your refund and then file the amended tax returns on your behalf. 

So, whether you’re a current payroll or HR client or you’re new to Asure, let us help you get the stimulus money to which you’re legally entitled.

Take a moment to learn about your potential ERTC eligibility. Don’t miss out on funding that is meant to help your business!

Steven

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