Verify Your ERC Eligibility and Calculate Your Maximum Tax Credit
Did your business have 5 or more W2 employees in either 2020 or 2021, excluding yourself? If your business managed to keep employees despite COVID-related shutdowns, you may qualify for a tax reimbursement of up to $26,000 per employee.
Quick and Easy
With our streamlined processes, some clients are able to file claims and receive their funds within a mere 1-2 weeks, making it a hassle-free experience to get their money quickly.
Specializing solely in ERC sets our team apart, making us the foremost experts in the industry. Consequently, we can secure greater funding for your business while delivering unparalleled proficiency.
Rest easy with the knowledge that your sensitive information is protected by our cutting-edge Client Portal. You can let go of your worries and be confident in the security of your data.
Our process is designed to be simple. You can obtain an initial ERC estimate quickly and affordably, allowing you to gain momentum in the process without making a commitment.
Tax Credit Success Stories
Hundreds of businesses across diverse sectors have been empowered by First Class Business Group to harness the potential of their Employee Retention Credit and optimize their workforce’s efficiency.
How does the process work?
Our team consists of industry experts who offer valuable insights that allow us to make informed evaluations of your eligibility for this credit. We partner with entrepreneurs from a variety of fields to help them secure this beneficial tax advantage.
1. Gathering Documentation
Utilize our encrypted portal to upload your 941 returns, PPP loan records, and unprocessed payroll information.
3. Amending Returns
We will assist in preparing and filing the amended payroll returns, specifically the 941-X.
2. Credit Calculation and Accounting
Our team of experts will utilize their knowledge to determine the precise amount of credit you can receive from the IRS.
4. Receive Your Refund
Upon processing the credit, the IRS will issue a check and send it to you via mail.
Who We Are
When it comes to grant consulting, First Class Business Group is your one-stop solution. Our team of specialists has extensive experience in identifying and executing successful grants, relieving you of any concerns. Additionally, our various departments ensure that every aspect of your application is handled with accuracy and efficiency, enabling you to enjoy the benefits of receiving that highly sought-after grant!
At First Class Business Group, we are dedicated to providing exceptional guidance and prioritizing our clients best interests. We believe in communicating what our clients need to know and ensuring they are positioned for optimal results.
Maximize your ERC tax credits
Dealing with intricate payroll and tax details demands specialized expertise beyond what most bookkeepers or CPAs possess. Our team provides lucid, succinct guidance and is readily available to aid you.
Professional ERC Specialists
Our ERC support specialists rank among the top in the industry and guarantee a simple and hassle-free process for claiming your ERC filing.
FAQs about the Employee Retention Credit (ERC)
What is the ERC?
The Employee Retention Credit (ERC) is a refundable tax credit provided by the US government to encourage eligible employers to keep their employees on payroll despite the economic impacts of COVID-19. The ERC is intended to help businesses that were either partially or fully shut down due to government restrictions or that suffered a significant decline in revenue compared to a previous year. Eligible employers can receive a credit of up to $7,000 per employee per quarter in 2021 and $5,000 per employee for the entire year 2020, based on certain criteria.
Is ERTC and ERC the same thing?
The Employee Retention Credit, also referred to as the Employee Retention Tax Credit (ERTC), was established by the Coronavirus Aid and Relief Act in 2020 to help businesses retain their employees on the payroll. Both ERTC and ERC are refundable tax credits.
What would make my Business Ineligible?
Most types of businesses are eligible to claim the CARES Act and Employee Retention Credit, with the exception of government entities such as federal, state, and local governments. Tribal governments may qualify, though. Self-employed individuals may not be eligible, but there are specific rules that may apply to them.
If you do not qualify for these programs, there may be alternative programs that you can pursue. By completing our form, you can determine your eligibility and learn how we can assist you. If you are uncertain about your eligibility, begin gathering your documentation and submit an application to determine your qualification status.
Why should I work with First Class Business Group?
The tax code is incredibly lengthy, with over 70,000 pages, making it impossible for anyone to know everything about it. That’s why we have a specialized team of experts who exclusively focus on the ERC program. It’s like the difference between a general contractor and a plumber. A general contractor has broad knowledge about building houses, but may not be an expert in plumbing. Conversely, a plumber specializes in plumbing and knows all the intricate details of how it works. Similarly, our team’s exclusive focus on the ERC program allows us to have a comprehensive understanding of all the details and nuances to help you receive the most accurate refund possible.
What if I wait to claim the ERC?
Businesses are typically required to file amended returns for the 2020 tax year by April 15, 2024, and for the 2021 tax year by April 15, 2025.
Do you charge a fee, and when do I pay it?
You won’t be charged anything upfront, nor will you be required to take any action before we examine your refund options. Once we begin working on obtaining your refunds, we will only deduct a small percentage of the funds we recover for you. There are no hidden costs that you are unaware of, and you won’t have to pay anything from your own pocket.
Our fee includes the services of a professional CPA or tax attorney who will ensure that your refund claims are processed accurately. They will assess your company’s eligibility for a refund and the amount you should receive, as well as assist you in obtaining it.
Can a closed business apply for ERC?
The employee retention tax credit offered by the CARES Act isn’t just beneficial for your business, but also for supporting your employees during these challenging times. This credit is specifically designed to provide financial assistance directly to your employees, who rely on their income to take care of their families and homes. By applying for this credit, you can extend extra support to your employees. The credit is paid in cash by the IRS, which you can use to cover payroll tax payments or provide health care support to your employees. If you are eligible, you can claim the credit immediately with our assistance at First Class Business Group, making the process hassle-free.
What is the CARES Act of 2020?
In March 2020, President Donald Trump signed into law the CARES Act, short for the Coronavirus Aid Relief and Economic Security Act. The $2.2 trillion stimulus package was aimed at assisting businesses in managing the impact of the pandemic. One of its principal aspects was a payroll tax credit, which was fully refundable and applied to eligible wages for full-time employees from March 13 to December 31, 2020.
The goal of this credit was to enable businesses to maintain their workforce and prevent significant staff reductions, which were a primary concern during the pandemic. Even if they are experiencing financial difficulties due to the pandemic, businesses can take advantage of this credit and keep paying their employees, with the ability to claim it immediately.
Will I get in trouble with the IRS for filling?
The Internal Revenue Service (IRS) has established a program that simplifies the process of enhancing business profitability. Seize this incredible opportunity and reap its benefits!
Ready to get started?
Don’t wait any longer to maximize your tax benefits! Schedule a complimentary consultation with our team of experts today. We will review your eligibility and provide an estimate of your potential tax benefit during the consultation. Take action now!
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Mail for Query
We’re available to answer your questions via email.
Why work with us?
At First Class Business Group, you can trust us to handle your grant process with zero risks and zero upfront costs. We only receive compensation once you are paid directly. Our team of experts will manage the entire process from A to Z while providing consistent communication, ensuring you are informed of all grant-related activities. We pride ourselves on our professionalism and expertise, ensuring that your case is handled correctly to secure the funding you deserve. The grant application process can be daunting, but we take the burden off your shoulders, providing peace of mind knowing you are in good hands. Let us guide you to the finish line. As a client of First Class Business Group, we will keep you informed of every eligible program that becomes available to maximize your chances of success. Our mission is to help your business thrive!