Employee retention credit (ERC) solutions
The extended and expanded employee retention credit (ERC) from the Consolidated Appropriations Act (CAA) could have significant benefits for you and your business. However, the regulations surrounding the ERC tend to be fact specific and tedious. Baker Tilly has put together a set of comprehensive resources available to assist businesses that are considering taking advantage of the ERC.
New guidance is being released regularly. Contact our ERC specialists to learn if you qualify for the ERC or visit our relief portal to get started.
Let us help you file your ERC, assemble and apply for PPP loan forgiveness or both with our proprietary relief portal designed to maximize the benefits from each program.
The employee retention credit provided temporary relief for employers who continued to pay their workers despite COVID-19-related disruptions, but with most restrictions for businesses easing, the ERC no longer seemed necessary and its termination was included in the recently passed $1.2 trillion bipartisan infrastructure act.
The CAA made several significant employer-friendly changes to the ERC and have effectively created two separate versions of the credit, one for 2020 and another for 2021. We have developed a flowchart that outlines the differences between the two and guidance on how to determine eligibility.
For more information or to learn how Baker Tilly specialists can help, reach out to your Baker Tilly advisor or contact our team.