What is the Employee Retention Credit (ERC)?

It is a Federal Incentive for Businesses

The ERC is a federal incentive for businesses that kept employees on payroll during COVID-19. A recent change in regulations means that even if you received funds under the Payment Protection Plan (PPP), you could also receive the ERC.

The ERC came from the same relief bill that created PPP loans, the CARES Act. It is designed to reward businesses who kept employees on payroll in 2020 and 2021. Qualifying is simple. 

The Rules have Changed

Since the program’s inception, the ERC provisions have significantly. Because of bad information and rumors, many business owners are prematurely disqualifying themselves.

Currently available to both essential and non-essential businesses, this payroll tax refund applies to any industry that was impacted by the pandemic. With this refund, you can grow your business, cover operating expenses, pay off debt, hire quality talent, or build a safety net.

The team at Prosper and the certified tax professionals can make sense of the process, so you can discover if your business qualifies.

Frequently Asked Questions.

No, they are not. The ERC returns the payroll taxes that your business has already paid, whereas the PPP was a forgivable loan.

You qualify, if your business experienced disruptions to commerce, travel, or meetings, you qualify! This includes price increases, supply chain disruptions, staffing shortages, reduced hours, hiring challenges, were not able to travel, or experienced a reduction in goods or services offered. 

The program has technically expired.  As a result, you may have a limited amount of time in which to act

While this refund may be considered taxable income, it can be used however your business would like.

Once we receive all of your paperwork, we will refer you to a licensed CPA firm that will conduct eligibility of your ERC filing. The process typically takes 3-5 business days to complete.  You should receive checks from the US Treasury in 5 to 8 months depending upon their workload.  
Yes, both essential and non-essential businesses can qualify and a decrease in revenue is not required. We have seen several clients experience an increase in sales, but yet were still disrupted.

There are no obligations or up-front fees to qualify.  You will be compensating the CPA firm that completed your ERC request, once you receive your IRS credits. 

Our team has recovered monies for several clients who have also been told that they don’t qualify. It will cost you nothing to find out since you pay only after you receive your refund. You have nothing to lose.

Determine your eligibility for the ERC Credit.
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