Maximize Employee Retention Credit benefits with Aprio
The Employee Retention Credit (ERC) is a refundable federal payroll tax credit designed to encourage businesses to retain their employees through COVID-19. This valuable credit can provide up to $26,000 per employee across the 2020 and 2021 tax years.
Aprio’s ERC experts are nationally recognized COVID relief thought leaders. Our deep experience enables our team to think creatively within the confines of IRS regulations to maximize the benefits of the ERC, PPP and other credits to increase liquidity.
Justin Elanjian, CPA
Partner-in-Charge, PPP & ERC Services
ERC assistance from nationally recognized COVID relief benefits experts
Aprio’s dedicated ERC and PPP advisors have been on the of the forefront of educating the public and guiding clients to maximize COVID relief benefits. We continuously monitor new guidance from the SBA, as well as the Treasury, Congress and the IRS, to ensure we have the latest information when advising our clients.
Aprio’s COVID relief benefits experts are regularly featured in some of the nation’s most reputable publications for their ERC- and PPP-related expertise. Leverage the experience of over 50 dedicated advisors.
ERC must be considered in your PPP loan forgiveness application
PPP borrowers are now eligible to obtain the Employee Retention credit. A proactive approach is needed to maximize PPP loan forgiveness and fully leverage the benefits of ERC.
The Aprio team can help you create an overarching strategy that incorporates PPP, ERC and other tax credits and incentives such as the R&D tax credit ensuring there’s no money left on the table.
Your Aprio advisor will provide guidance to maximize your benefits, help you claim your credits and prepare to apply for PPP loan forgiveness.
Are you eligible for the Employee Retention Credit?
The ERC applies to any private-sector business or tax-exempt organization that carries on a trade or business that experienced either of these conditions:
Experienced a full or partial suspension in operations – Business was either fully or partially suspended due to orders from the federal government, or a state government having jurisdiction over the employer, limiting commerce, travel, or group meetings due to COVID-19.
Experienced a significant decline in gross receipts – During any quarter compared to that same calendar quarter in 2019. Defined at a 50% decline in any quarter during 2020 and a 20% decline in 2021.
Is a Recovery Startup Business – A business that (1) began carrying on a trade or business after February 15, 2020, (2) has average annual gross receipts that do not exceed $1,000,000 and (3) do not meet either of the other two criteria outlined above.