What is ERC?

What Is the Employee Retention Credit?

If you’re a business owner and your company was active during the pandemic, you’re likely eligible for an ERC refund from the IRS. Get My Funds can help you receive it.

What is ERC?

ERC is a CARES Act program designed to help businesses that were able to retain their employees during the COVID-19 pandemic.

  • Get up to $26,000 per W2 employee
  • It’s a refundable tax credit, not a loan or grant
  • Get free analysis by our CPAs with no upfront cost
  • Over 80% of businesses qualify for ERC
  • Companies with up to 500 W2 employees are eligible
  • If you collected PPP, your company could still qualify for ERC

ERC applies to wages from March 12, 2020 and before January 1, 2022 (ERC eligibility previously ended December 31, 2021, but was shortened as part of the latest revision of the program).

You get a check from the IRS (just like a tax refund) and don’t have to pay it back. Once your business receives the ERC funds from the U.S. Treasury, no further action is required on your part.

Who Qualifies for ERC?

You may qualify for ERC if you have W2 employees and meet one or more of the following criteria:

  • Your company had a 20% or greater revenue reduction from 2019 to 2021 when comparing Q1, Q2, and/or Q3
  • Your company had a 50% or greater revenue reduction from 2019 to 2020 when comparing Q2, Q3, and/or Q4
  • Your business was fully or partially suspended at any time during these six quarters due to a government order
  • You are a Recovery Startup Business (you started a business during the pandemic and have less than $1 million in gross receipts)

What To Do Next

Get My Funds has helped over a thousand companies receive over $300 million in pandemic-related funding by leveraging our expertise to optimize the process and maximize funding.

Our team of funding specialists, supported by our CPA partners who specialize in ERC, can walk you through the process.

We invite you to apply—we help eligible clients receive their refundable tax credit. Find out if you qualify before the deadline.

ERC at a Glance

How Much Can I Get?

You can receive up to $26,000 per W2 employee based on eligibility criteria and wage calculations during 2020 and 2021.

Does My Business Qualify?

Unsure if your company qualifies for an ERC? Almost all with W2 employees during 2020 and 2021 are entitled.

How Do I Apply For ERC?

The best way to claim the credit is to work with GetMyFunds Funding Specialists and CPAs who know how to handle the complexities and your unique situation.

How Does It Work?

The Employee Retention Credit (ERC) allows businesses to receive a refundable tax credit for retaining employees during the COVID-19 pandemic. Since this is not a loan or lending program, employers do not have to pay it back.

What Are ERC Qualified Wages?

The qualified wages, as defined by the IRS, are those that were paid to employees after March 12, 2020, and before January 1, 2022.

What’s the Deadline?

The first one is April 15, 2024, which is the last date you can apply for all quarters in 2020. The second is April 15, 2025, which is the deadline for all quarters in 2021.

What If I Already Collected PPP?

Your company can still qualify for ERC if you have qualifying earnings that were not included as payroll expenditures when you applied for PPP.

When Will I Get My Check?

Once you have gone through the process and we have filed your ERC claim, you should receive a refund check from the U.S. Treasury within approximately four to six months.

Do I Have to Pay It Back?

No. ERC is not a loan, it’s a refundable tax credit that you get to keep.

Are there Qualified Wages Exclusions for Company Owners and Family?

Most business owners likely can’t include their wages for the ERC. Family members’ wages are generally excluded as well.

Know a Business
That Could Use ERC Help?

We are now accepting introductions to business that may qualify for ERC. We do the heavy lifting, and you collect a referral fee. Our average ERC funding per company is $300,000, and your average referral fee per client is $4,500. Several of our referral partners will earn over six figures.

Referral Program

We do the heavy lifting.
You get your ERC funds faster.

There’s no commitment, pressure, or obligation.