Employee Retention Credit (ERC)

The Federal Government has set aside $400 billion to reward small businesses that were determined to keep their doors open during the COVID-19 Pandemic. This reward comes in the form of a payroll tax credit called the Employee Retention Credit or ERC. As a small business owner, you can receive up to $26,000 per full-time employee that remained on your payroll from March 13, 2020 through the end of 2021. However, Many businesses have found that submitting the required paperwork in order to receive the credit to be a daunting task. And submitting this paperwork to the IRS is time sensitive. In response to the needs of our clients, Metrolina Tax Professionals is now offering a streamline service to get your ERC application submitted and approved!

STEP 1: Apply

STEP 2: Credit Calculated

After a brief questionnaire, One of our ERC Specialist will accurately create and submit a new ERC application on behalf of your business. You will upload any documentation that is required conveniently and securely via our ERC Portal.

STEP 2: Credit Calculated

Upon reviewing the ERC application and determining eligibility, the Employee Retention Credit amount is calculated. We are experienced in making sure your business receives every bit of the credit that it deserves.

STEP 3: ERC Payout

STEP 2: Credit Calculated

STEP 3: ERC Payout

Metrolina Tax Professionals will prepare and file all of the necessary forms to the IRS in order for your business to receive your ERC payout. You will have access to monitor the progress of your application every step of the way via our ERC Portal.

Frequently Asked Questions

Please reach us at support@metrolinataxpros.com if you cannot find an answer to your question.

When is the deadline to apply?

The deadlines to apply are: For Q1-Q4 2020, ERC claims must be filed by April 15, 2024. For Q1-Q4 2021, ERC claims must be filed by April 15, 2025.

Can I receive the ERC if I have also received a PPP loan?

Yes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, modified the ERC credit rules. One of the modifications included allowing a company to have a PPP loan and still take advantage of the ERC credit.

What information needs to be provided to calculate the credit?

The following information is needed: An understanding of how the business is eligible for the credit, gross receipts for the business for each quarter in 2019 through Q3 2021, a list of suspended locations with suspension dates (if the business is eligible due to a suspension mandated by a governmental order), and detailed payroll information for the business, including health plan expenses.

Does my business have to pay back the credit?

No. Think of this as a refund on payroll taxes filed in 2020 and 2021. It's a refundable tax credit that qualified businesses or organizations do not have to repay.

What is a recovery startup business?

You may have seen this term in the IRS rules for ERC. Basically, if the applicant's company qualifies for ERC as a Recovery Startup Business, special rules apply, In order to meet the definition of a “Recovery Startup Businesses'' a company must have been founded after Feb 15, 2020; and also have less than $1 million in revenue.

Employee Retention Credit (ERC)

STEP 1: Apply

STEP 2: Credit Calculated

STEP 2: Credit Calculated

STEP 2: Credit Calculated

STEP 2: Credit Calculated

STEP 2: Credit Calculated

STEP 3: ERC Payout

STEP 2: Credit Calculated

STEP 3: ERC Payout

Frequently Asked Questions

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