top of page
inner banner.jpg

Employee Retention Credit

Understanding the ERC

The Employee Retention Credit (ERC) is a tax incentive introduced by the U.S. government to support businesses during challenging economic periods, such as the COVID-19 pandemic. It was designed to encourage employers to retain their workforce by providing refundable tax credits based on wages paid to employees.

Employee Retentnion Credit.jpg

Potential Financial Relief

The ERC offers substantial financial relief. Initially, eligible employers could claim up to 50% of qualified wages per employee, capped at $5,000 per employee annually. Later amendments increased this amount, allowing up to 70% of qualified wages per quarter, with a cap of $7,000 per employee per quarter for certain periods in 2021.

How Liberty Tax Defenders Can Help

​At Liberty Tax Defenders, we understand the ERC and the implications of claiming the IRS.  Our CEO helped oversee the implementation of this credit while working for the IRS. We will:

  • Determine if you qualify: Our team will work diligently to determine if you qualify for the ERC for 2020 or 2021.

  • Claim the Credit: If you qualify, we'll file the necessary amended payroll tax returns to help you properly claim the employee retention credit.

  • If you fraudulently or erroneously claimed the ERC: If you claimed the ERC in error or knew you didn't qualify and claimed it anyway, we'll work with you and the IRS to retract your claim and finalize a closing agreement that will minimize any potential penalties and fines. 

delinquent.jpg

Don't Wait Until It's Too Late

The deadline to claim the ERC for Tax Year 2021 is 04/15/2025!  Make sure you act now so you don't miss out!  

​

Also, on the reverse side, we know mistakes happen.  If you claimed the ERC and shouldn't have, please reach out to us immediately.  Let's voluntarily work with the IRS to retract your claim rather than let the IRS come and find you.  The IRS is gearing up to go after businesses and individuals that claimed the ERC and should not have.  We've saved our clients millions of dollars by negotiating with the IRS and we can help you with ERC issues too.

​

Don't wait, reach out to Liberty Tax Defenders today! 

bottom of page