Is it easier to qualify for IRS COVID-19 Employee Retention Credits (ERCs) for tax year 2020 or 2021?
Craig Brogan, CPA, an outside contributor to AC Surety discusses how contractors can determine if they’re eligible to receive a significant ERC refund check for tax years 2020 and/or 2021.
The IRS is still issuing employee retention credit (ERC) refunds for companies that retained employees during the COVID-19 restrictions in tax years 2020 and 2021.
If you’re a contractor that had up to 100 employees in 2020, or up to 500 employees in 2021, and your revenue decreased because of the COVID-19 restrictions, you may be eligible for a significant refund check. In fact, clients are starting to receive their ERC checks, a few checks are in the high six figures if they were eligible for multiple quarters.
What’s the bottom line? You may qualify if you’re a construction company and your revenue in 2020 and/or 2021 decreased from your 2019 revenue from the same quarter.
Don’t miss this 90-second video from AC Surety financial contributor Craig Brogan to find out what credits are still available when you can apply, and for what tax year(s) you’re eligible. Watching this short video could lead to IRS refund checks for tens, or even hundreds, of thousands of dollars.