Employee Retention Credit
Recently, the federal government rolled out the Employee Retention Credit (ERC) as a way for businesses to recuperate revenue that may have been impacted during the COVID-19 pandemic in 2020 and 2021. Eagle Bend Capital Financing has a team designated to handle ERC refunds for businesses in every industry.
ERC Is Not a Loan
While the ERC was created from the same stimulus initiatives as PPP, Employee Retention Credits are not loans. ERC is a payroll tax refund for businesses that kept people employed during the pandemic. ERC is being offered so businesses can get an additional tax refund for 2020 and the first three quarters of 2021.
How Much of a Refund Can Your Business Get?
The ERC refund allows businesses to get up to $26,000 per employee kept on the payroll during the pandemic. To date, eligible businesses have reclaimed an average of $150,000.
Who Qualifies for ERC Refunds?
To qualify for an ERC refund, businesses must meet at least one of the following requirements:
- A business must have experienced partial or full suspension of operations in 2020 and/or the first three quarters of 2021
- A business must have experienced a decline in gross revenue in that same period
- If the business is a recovery startup with less than $1 million in revenue that started on or after February 15, 2020
What Is the Deadline for ERC Refunds?
The IRS recently gave a short extension on filing for ERC refunds, but this window is closing. The ability to take advantage of this stimulus will not last long.
Get Started Today
Eagle Bend Capital helps businesses get the highest ERC refund possible. Our team understands the complexities of the Employee Retention Credit guidelines, and we will create the filings so your business can receive a refund directly to your account, quickly and efficiently. Contact Eagle Bend Capital Financing today to get the funds your business is owed.