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Act Now to Qualify for Your 2020 and 2021 ERC Money

Written by Coach Janelle CPA on June 21, 2023

It’s 2023, but you still have the chance to qualify for the employee retention credit (ERC) for the 2020 and 2021 calendar years. This credit can potentially help you recover a significant amount of money.

The ERC is a refundable tax credit against certain employment taxes. To claim this credit, it is necessary to amend your payroll tax returns for 2020 and 2021. While this might seem like a cumbersome process, the financial benefits can make it well worth the effort. For instance, if your business has 12 employees and meets the qualifications for maximum tax credits, you could receive a total of $312,000.

There are two primary routes to qualifying for the ERC:

1. A decline in gross receipts. The most straightforward way to qualify is by demonstrating a decline in your gross receipts during the years 2020 and 2021. It is important to note that the decline does not have to be directly caused by COVID-19.

2. Government order causing more than a nominal effect. If a government order caused your business to fully or partially shut down, you might qualify for the ERC for the wages paid during the shutdown period.

The deadline to claim the ERC for 2020—April 15, 2024—is about 10 months away. We strongly recommend that you act promptly to maximize your potential benefits from this program.

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Discover the Power of Virtual CFO Excellence: 

1. Unleash the full potential of your business with Coach Janelle's unmatched expertise as a Certified Public Accountant (CPA) and her track record of financial brilliance.

2. Gain access to cutting-edge financial planning, forecasting, and budgeting techniques that will elevate your business to new heights of success.

3. Minimize financial risks and maximize profitability under Coach Janelle's insightful guidance, as she uncovers hidden opportunities and protects your bottom line.

4. Achieve financial clarity and serenity, freeing up your time and energy to focus on what truly matters – growing your business.

Why Choose Coach Janelle CPA as Your Virtual CFO:

1. Trusted Expertise: Rest easy knowing your finances are in the hands of a highly qualified CPA with a wealth of industry experience.

2. Personalized Approach: Coach Janelle understands that each business has unique needs. Expect tailored solutions that address your specific challenges and opportunities.

3. Confidentiality & Integrity: Your financial information is treated with the utmost confidentiality and integrity, building a relationship based on trust and professionalism.

4. Collaborative Partnership: Coach Janelle isn't just a service provider; she's a dedicated partner invested in your financial success. Benefit from ongoing support, open communication, and strategic collaboration.

The time to supercharge your business's financial performance is NOW! Don't miss out on the opportunity to revolutionize your financial future. Contact Coach Janelle CPA today to schedule a consultation and embark on a journey towards sustainable growth, profitability, and unparalleled financial success. Let's soar together!

About Coach Janelle CPA

My passion is to help 6 & 7- figure+ earners see their financial possibilities through financial literacy and strategy. 

I want to help you save on taxes so you can keep more of your money to live the life you dream of and have worked for NOW, and build wealth and equity for the next generation.

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