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All rights reserved.
Specializing in Maximizing the ERC for US Businesses
The program commenced on March 13th, 2020, and continues until September 30th, 2021, for eligible employers. Refund applications for 2020 and 2021 can be made after December 31st, extending into 2022 and 2023 and potentially beyond. We have successfully assisted clients in receiving refunds ranging from $100,000 to $6 million. Additionally, some clients have qualified to continue receiving the ERC, amounting to approximately 30% of their payroll costs, in every payroll processed through September 30, 2021.
Absolutely. Under the Consolidated Appropriations Act, businesses are eligible for the ERC even if they have already received a PPP loan. However, it's important to note that the ERC can only be applied to wages not utilized for the PPP.
Finova Trust is a highly regarded tax recovery consulting firm that operates on a performance-based model.
With over 14 years of experience, we have established ourselves as the Employee Retention Credit (ERC) Program leader. Serving a diverse client base across various industries.
The ERC is a stimulus initiative designed to assist businesses that successfully retained their employees during the challenging Covid-19 pandemic. Established by the CARES Act, it offers a refundable tax credit you can claim for your business. The ERC is accessible to small and mid-sized businesses based on qualified wages and employee healthcare expenditures.
Businesses can receive up to $26,000 per employee and take advantage of this program for 2020 and three quarters of 2021. Qualification is determined by decreased revenue or a COVID event, and no funding limit exists. The ERC is a refundable tax credit.
In 2020, you can claim up to $5,000 per employee. For 2021, the credit can reach up to $7,000 per employee per quarter.
To qualify, your business must have been negatively impacted in either of the following ways:
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The ERC program has undergone several changes and encompasses numerous technical details, including determining qualified wages and employee eligibility. Your business may require extensive review and analysis based on its specific circumstances. The program's complexity can leave you with many unanswered questions.
At Finova Trust, we can provide clarity. Our dedicated experts will guide you through the process and outline the steps to maximize your business's claim.
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How does the PPP loan affect the ERC?
What are the differences between the 2020 and 2021 programs and how do they apply to your business?
What are the aggregation rules for larger, multi-state employers, and how do I interpret executive orders from multiple states?
How do part-time, Union, and tipped employees impact refund amounts?
We Specialize in Maximizing ERC for US Based Businesses
Our specialists understand the intricacies of the program rules and are available to answer your questions, including:
Your business can still qualify for the ERC if it falls under either of the following criteria:
A government authority mandated a partial or total shutdown of your business during 2020 or 2021, including limitations on operations, travel restrictions, or group meetings.
Gross receipt reduction criteria vary for 2020 and 2021, but it is measured against the current quarter compared to pre-COVID amounts in 2019.
Qualify for the ERC Program Today
Streamlined qualification process
No upfront charges
This is a government-backed payroll tax refund, not a loan
Compatible with the Paycheck Protection Program (PPP)
Thorough evaluation regarding your business's eligibility
Comprehensive analysis of your claim
Guidance on the claiming process and required documentation
Expertise specific to the program that regular CPAs or payroll processors may lack
Efficient end-to-end process, from eligibility assessment to claim submission and refund receipt
Copyright © 2023 Finova Trust · All rights reserved.
Finova Trust is a highly regarded tax recovery consulting firm that operates on a performance-based model.
With over 14 years of experience, we have established ourselves as the Employee Retention Credit (ERC) Program leader. Serving a diverse client base across various industries.