Who Qualifies for a Refund?
A company, including tax-exempt and charities with between 4 and 500 employees that was in business in 2020 and/or 2021 and either:
Limited Capacity
Was your business forced to reduce its capacity because of government mandates?
Supply Chain Challenges
Did a government shutdown cause your suppliers to suspend operations, making it so that you couldn’t get essential goods or materials?
Full or partial Shutdown
Did you fully or partially suspend your business or reduce your hours due to orders from the government?
New Business Startup
Did you start your business after February 15, 2020?
Reduction in Revenue
Did you experience a decline of more than 20% in gross receipts in 2020 or 2021?
Reduction in Goods or Services
Did you reduce the goods or services you offer because of government-issued mandates?
What is the ERC?
The ERC is a reward from the Federal Government for companies that kept staff on the payroll throughout the pandemic. Due to a recent change in regulations, you could be eligible to receive the ERC in addition to PPP.
Emerging from the CARES Act. The ERC was established by the same relief bill that established PPP loans.
It is intended to reward companies who kept workers on the payroll in 2020 or 2021.
You may receive back up to $26,000 in payroll taxes for each employee.
Our team can connect you with the certified tax professionals in order to help you avoid missing out on the ERC
Since inception, the ERC provisions have changed significantly. Many business owners are prematurely disqualifying themselves due to bad information.
This payroll tax refund is currently available to both essential and non-essential businesses in any industry that was impacted by the pandemic.
With this refund, you can cover operating expenses, hire quality talent, grow your business, hire quality talent, build a safety net, or pay off debt.
Prosper Capital Group can help you simplify the process, so you can determine if your business qualifies.
