STEP 1: Watch This Short Video To Learn More
Access All The FREE Information & Explore Your Eligibility Requirements In:
STEP 2: Explore Your Eligibility Requirements
There are two ways to qualify:
1. FULL OR PARTIAL SUSPENSION OF BUSINESS OPERATIONS A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel, or restrictions of group meetings.
2. GROSS RECEIPTS REDUCTION Gross receipt reduction criteria are different for 2020 and 2021 but are measured against the current quarter as compared to 2019 pre-COVID amounts.
Here are some impacts to consider that qualify your business for the Employee Retention Credit:
1. Change in business hours
2. Partial or full suspension of your operations
3. Shutdowns of your supply chain or vendors
4. Reduction in services offered
5. Reduction in workforce or employee workloads
6. A disruption in your business (division or department closures)
7. Inability to visit a client’s job site
8. Suppliers were unable to make deliveries of critical goods or materials
9. Additional spacing requirements for employees and customers due to social distancing
10. Change in job roles/functions
11. Tasks or work that couldn’t be done from home or while transitioning to remote work conditions
12. Lack of Travel
13. Lack of Group Meetings
Yes. Under the Consolidated Appropriations Act, businesses can now qualify for the ERC even if they already received a PPP loan. Note, though, that the ERC will only apply to wages not used for the PPP.
Your business qualifies for the ERC, if it falls under one of the following:
* A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
* Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
Yes. To qualify, your business must meet either one of the following criteria:
- Experienced a decline in gross receipts by 20%, or
- Had to change business operations due to government orders
Many items are considered as changes in business operations, including shifts in job roles and the purchase of extra protective equipment. The ERC, in this case, also applies only for Q3 and Q4 of 2021. Businesses can qualify, regardless of the number of full-time employees.