Employee Retention Credit | COVID Payroll Tax Credit

What is the Employee Retention Credit?

The Consolidated Appropriations Act (CAA), passed in December 2020, changes and updates to the prior economic relief legislation for COVID-19. The CAA clarifies and expands the Employee Retention Credit that was created by the CARES Act. All employers should review this legislation change to see if their 2020 payroll costs may qualify and review their situation to see if they can qualify for 2021.

Refunds may be available for $5,000 per employee for 2020, and potentially $14,000 per employee for 2021.

Do You Qualify?

The criteria for the 2020 & 2021 Employee Retention Credit is different. Use our self-assessment tool below to get started. If you meet the criteria, click the light blue buttons below to connect with our team of CPAs and advisors to determine your maximum tax refund amount.

Economic Relief Expertise

Our CPAs are advising clients across all industries on what economic relief, tax provisions, and employee retention programs are available to them as part of the CARES Act & CAA. From EIDL to PPP, and ERC - We're here to help.

2020 Employee Retention Credit Self-Assessment Tool

Use this self-assessment tool to help you understand the requirements. Click below (begin at Q1), and follow the instructions to see if you qualify.

1) Are you a business OR a non-profit, tax-exempt organization?

YES – Continue to Question #2

NO – You do not qualify for the 2020 Employee Retention Credit

2) During the calendar quarter, did you suspend operations (full or partial) as a result of government order related to COVID-19?

YES – You may qualify.

NO – Go to question #3.

3) Did your company have a greater than 50% reduction in quarterly gross receipts in 2020, compared to the same quarter in 2019?

YES – You may qualify.

NO – You do not qualify for the 2020 Employee Retention Credit.

Guidance & Support: 2020 Employee Retention Credit (ERC)

Lurie advisors are available to assist with a tax credit study and guide you on the necessary filing requirements. To find out your maximum eligible refund, click below to connect with a member of our team.