Employee Retention Credit

ERC is a refundable payroll tax credit. Born out of the same CARES Act as PPP, its aim is to incentivize economic relief for small and medium businesses who retained employees during the COVID-19 pandemic. Initially, eligible employers could only take either PPP, or ERC. In early 2021, the rules changed and now your business can claim ERC even if you received PPP funds. That’s great news.

PPP was a forgivable loan. ERC returns the payroll taxes that your business has already paid. Once you receive the ERC funds from the US Treasury, no further action is required on your part.

PPP was heavily marketed by the SBA, while ERC is claimed directly through the U.S. Treasury. Our partnership with IR will educate businesses about the payroll tax refund they may be entitled to.

There are over 70,000 pages of tax code: it's impossible to be an expert on all of them. ERC is all that RMBT's partner, Innovation Refunds, does.

The IRS expects 70% - 80% of small and medium businesses to qualify. A qualification check is free and fast, for all RMBT customers. If your business experienced disruptions to commerce, travel, or group meetings, you qualify! This includes supply chain disruptions, price increases, staffing shortages, difficulty hiring, reduced hours, reduction in goods or services offered, were unable to travel, or attend conventions. Talk to a ERC specialist today, to find out if you qualify.

Time is of the essence as the program has technically expired. We all know that government funded programs are subject to change. We have a limited window of time to claw back the money which is rightfully owed to you. The program could run out of allocated funds at any time and is subject to the whims of congress. Don’t delay!

Unlike PPP, this is not a loan. It's money for your business, and it's up to you how you use it.

Absolutely! Both Essential and Non-essential businesses alike can qualify, and a decline in revenue is not required. Many of our clients even had increases in sales, but still experienced disruptions or were negatively impacted.

IR will complete the processing of your paperwork within 30 days of receiving your documents. You’ll receive refund checks from the US Treasury in 5 - 8 months depending upon backlog. The longer you wait, the longer it will take! Apply early to process your refund now!

Determining the proper amount that you’re entitled to is a complex accounting process. Although these are payroll tax credits, what you’ve paid in payroll tax has no bearing on your ERC calculations. The refunds are based on many factors including qualifying quarters, number of employees, hours worked, wages paid and if applicable, PPP loans, group health premiums and participation in other government programs to name a few.  One of the reasons that we choose Innovation Refunds is that their expert CPAs and Tax Attorneys determine, for free, exactly how much money your business is eligible to receive. Helping businesses to properly unlock these government incentives is Innovation Refunds’ specialty.

Our team has already recovered over $1 billion dollars in refunds that businesses were entitled to. Many times, for companies who were previously told they didn’t qualify. It won’t cost you a penny to see how much we can recover for you.