How do employers claim an Employee Retention Tax Credit (ERC)? What are “gross receipts” when it comes to the employee retention credit? MP’s HR services team addresses the top questions and provides answers about ERC eligibility. Get advice from HR providers on how to take advantage of this substantial pandemic assistance. MP’s HR services team address the top 13 questions about how to claim the ERC.
Employers could get up to $33,000 per employee in an Employee Retention Tax Credit (ERC). Since it’s a refundable tax credit, some employers are receiving their ERC as an advance. This could be a check in the mail for taxes already paid or credits that exceed their tax liabilities. Unfortunately, many organizations are mistakenly assuming they can’t participate in the program. These are the top five common myths that HR and payroll experts find that employers believe about the ERC.