What is the Employee Retention Credit?
The Employee Retention Credit (ERC) is a refundable tax credit introduced as part of the CARES Act to help businesses retain employees during the COVID-19 pandemic. Designed to offset employment taxes, the ERC rewards eligible businesses with up to $26,000 per employee for wages paid between March 12, 2020, and September 30, 2021. Unlike loans, ERC funds are yours to use as you see fit—no repayment or restrictions required.
Who Qualifies for the ERC Program?
Eligibility is open to businesses and 501(c) organizations that experienced:
- Full or partial suspension of operations due to government orders.
- Significant declines in gross receipts during the pandemic.
For organizations with 500 or fewer full-time employees, all employee compensation (wages and health benefits) is eligible. Businesses with over 500 employees must follow specific guidelines that limit eligible compensation to wages paid to inactive employees during periods of suspended or limited operations.
How Much Could You Receive?
2020 Credit:
Up to $5,000 per employee for the year.
2021 Credit:
Up to $7,000 per employee per quarter for the first three quarters, totaling up to $21,000 per employee.
This means businesses could qualify for up to $26,000 per full-time employee across both years.
Why Act Now?
The IRS is actively processing claims, but delays increase as more businesses apply. Acting quickly ensures your business doesn’t miss out on the funding it deserves.
How Does the Process Work?
Submit your contract and intake form. We’ll review your information and schedule a call to discuss eligibility and next steps.
After gathering the necessary documentation, we’ll prepare a claim package for your review and submission.
Claims are typically submitted within 4 to 8 weeks, and the IRS processes payments within 4 to 6 months. Timelines may vary depending on IRS volume.
What Does It Cost?
Our fee structure is entirely success-based:
- No upfront costs.
- You pay only when your business receives funds from the IRS.
- If you don’t get paid, neither do we.
Our Expertise
Why Choose E.J. Saad Law Firm?
At E.J. Saad Law Firm, PC, we empower businesses with the clarity and confidence needed to succeed in today’s multifaceted legal and economic landscape. Partner with us to achieve your goals.
Expertise
Decades of experience in economic claims and business litigation.
Efficiency
Streamlined, accurate claim preparation to maximize your credit.
Trust
Safeguarding your data and providing transparent service every step of the way.
Don’t Leave Money on the Table
Your business may already qualify for significant refunds. Contact us today for a free consultation and let us help you navigate the Employee Retention Credit program.
