If I received one or both rounds of Paycheck Protection Program (PPP) Loan(s), am I eligible to receive the Employee Retention Credits (ERC) also?
Yes. Initially the guidelines didn't allow companies to partake in both programs, but later, retroactively amended the bill to allow companies to receive both PPP Loans and the ERC benefits.
My business didn't experience a decline in revenue, can I still qualify?
Yes. There are several ways to qualify for the Employee Retention Credits (ERC). Some examples, but not limited to, are supply chain issues affecting your business operations or government restrictions that impeded your business during the pandemic.
How long does it take to receive my refunds?
Some refunds are received in as little as 4 months, but most take between 6 months to a year before they are issued.
Does it cost anything to find out how much ERC my business is entitled to?
While there are some companies that do charge to find out if your business qualifies for the Employee Retention Credits, any reputable firm should be able to determine whether or not your business is eligible without charging a fee.
Are non-profits eligible to receive ERC?
Yes. Non-profits and churches can qualify for the Employee Retention Credits.
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