FAQs about the Employee Retention Credit (ERC)
What is the ERC?
How do I get a cash refund from the ERC?
How large is the refund payment?
If I’ve already filed my business’s 2020 and 2021 federal returns, do I still qualify for the Employee Retention Credit?Why should I work with Smart Money Tax?
What is involved in getting a cash refund through ERC?
Federal 941 refund for payroll tax periods in 2020 & 2021. If there are taxes owed, the ERC reduces the amount owed by the refund amount. If there is a positive balance, the refund is remitted to your business. Where there are no taxes owed the entire refund amount is remitted to your business.
Is the ERC worth the trouble?
The ERC 941 refund can be as much as $26,000 PER EMPLOYEE and it is a refundable credit. Thanks to SmartMoneyTax ERC experts, the process is quick and simple.
Why should I work with Smart Money Tax?
Going through the nuances of Employee Retention Credit includes working through over 170 pages of IRS rules and regulations. In short, it is very difficult! We not only make it worth the trouble, but we make it easier for you as our ERC experts are also seasoned professional tax experts who provide you with best of breed expertise to help you maximize your ERC while increasing your value proposition.480 / 5,000.
Whether or not you have already filed your 2020 and 2021 business taxes you can still qualify.
Small businesses can apply for the Employee Retention Credit any time. The credit will be applied to your tax bill, if any or a refund check sent to you if no existing tax obligation.