Attention:

Even if you received Paycheck Protection Funds (PPP) funds, and whether or not your PPP loan was forgiven, you may also be eligible to receive funds from the Federal Government’s Employee Retention Credits (ERC) program?

Most business owners don’t realize that they can qualify for both the PPP and the ERC!

The Employee Retention Credit Program was part of the March 2021 legislation of the American Rescue Plan Act that revised the original ERC Program that was first included in the CARES Act of May 2020, where an employer had to choose between the Paycheck Protection Program (PPP) or the ERC. When the 2021 legislation was recently expanded, it extended and enlarged the ERC program further allowing eligible employers to benefit from both programs.

Details On How the ERC Program Applies to Small and Mid-sized Employers:

 •  Up to $26k per full time W-2 employee on payroll (min. 6 F/T, depending on actual paid wages and healthcare)

 •  Approximately $7k per employee per quarter from 1/1/2021 and can continue to 9/30/2021 for a total of $21k

 •  Retroactive for 2020 at $5k per employee

 •  Recovery Startup Businesses are eligible to go through 12/31/2021

 •  After eligibility is confirmed, the IRS-issued refunds arrive in approximately 6 months

EF-Financial Solutions, LLC is a referral partner for a leading national government assistance firm specializing in assisting business under 500 employees to navigate the rules and complexities of recovering eligible funds.