Businesses in all industries are claiming Employee Retention Tax Credit (ERC)s of millions of dollars—even if they received PPP loans. Many employers qualify for up to $33,000 per employee in refundable, advanceable funds. MP’s HR and payroll experts have created a brief, simple questionnaire to help employers determine if they might be eligible for the ERTC program. Just one “yes” answer could be enough for eligibility for this program. Download the questionnaire to find out if you may qualify.
You will:
• Learn about revenue loss requirements for 2021 and 2022
• Find out why an organization’s partial or complete shutdown in 2020 or 2021 qualifies them for ERC funds
• Discover how an inability to sell alcohol in the past two years may qualify employers for an ERC
• Uncover whether social distancing measures or vendor supplier issues make an organization eligible for an ERC
HR and Payroll
Reach out to our MP team if you need assistance.
HR and Payroll Compliance for Remote Workers: 6 Critical Considerations
In 2021 and 2022, organizations will permit employees to work remotely more than ever. While allowing remote work or hybrid remote work may improve employee engagement, it can also create more risk and legal exposure. Supervising remote employees could trigger risks for non-compliance with state (sometimes city) HR and payroll requirements. (This is true whether employers are aware of where remote employees are living and working, or if they aren’t. Even if employees move to a new state without telling their employers, the workplace is still subject to those local HR and payroll regulations.) Read the article to:
• Outline six key areas of payroll management and HR compliance remote employers must beware of
• Find out how employee classifications may change from state to state
• Discover how an employer’s pay frequency could create compliance challenges
• Learn why employers must know what state and city their remote employees live in
Read the article.
Nine Important Considerations for Employee Retention Tax Credit Eligibility: Part 2
Many employers are unaware of the Employee Retention Tax Credit (ERC or ERTC) or mistakenly assume they don’t qualify. Even employers that received Paycheck Protection Program (PPP) loans are claiming ERCs of thousands of dollars– some are claiming an ERC of $1 million or more. With assistance from HR and payroll experts like MP, the ERC process is simple and takes less than an hour for employers. In part two of this series (read part one here), MP’s HR services experts share four reminders about this substantial financial aid program. Read the article to:
• Find out how long to keep records of payroll data for an ERC claim
• Discover how long it takes to recoup ERC funds
• Learn how PPP loans affect an ERC claim
• Get tips for reducing the risk of an audit when claiming an ERC
Read the article.
Nine Important Considerations for Employee Retention Tax Credit Eligibility: Part 1
Businesses across the country– even those that received Paycheck Protection Program (PPP) loans– are claiming Employee Retention Tax Credits (ERC) of thousands of dollars. Many are claiming an ERC of $1 million or more. Unfortunately, many employers are unaware of the ERC or even mistakenly assume that they aren’t eligible. In part one of this series (read part two on Monday, August 30th), MP’s HR and payroll experts outline five key points for employers about this substantial pandemic aid program. Read the article to:
• Find out how ERC criteria differ from 2020 and 2021—and how eligibility has expanded
• Uncover what impact “owner restrictions” have on ERC claims
• Learn how to calculate a revenue loss to qualify for an ERC
• Discover why a business could still claim an ERC, even if they never fully shut down
Read the article.
Digital Nomads: Reducing Payroll Tax and HR Compliance Risks
“Digital nomads” increased by 96% from 2019 to 2020 per a recent study. The term digital nomads refers to employees who live and work in places around the country, or even the world. Unencumbered by an office, these employees working remotely travel and work in new locations, often without their employer’s awareness. While these remote work trends may result in happier employees and geoarbitrage (a way to hack and improve income compared to the cost of living), it’s also creating payroll tax compliance and general HR compliance issues for employers. Read the article to:
• Find out how digital nomads unknowingly create HR compliance issues
• Discover why digital nomads expose their employer to the risk of back taxes and fines
• Get tips on how to prevent payroll tax and HR compliance problems
• Uncover solutions that will keep employees happy and reduce risk for employers
Read the article.
A Simple Decision Tree to Determine Your Employee Retention Tax Credit (ERC) Eligibility
Use this simple tool to determine if your business is eligible for the ERC. Businesses across all verticals have claimed an Employee Retention Tax Credit (ERC or ERTC) of up to $33,000 per employee. Some employers have received ERCs of over $1 million. This program is accessible to many employers (in both the nonprofit and corporate sectors) — even if an organization already received other pandemic aid like PPP loans. Businesses may utilize this decision metric, developed by MP’s HR and payroll experts, to help determine ERC eligibility for a 2020 quarter. (Note, this diagram is provided for informational purposes and doesn’t constitute legal or accounting advice.) Download the diagram to:
• Determine eligibility for the ERC
• Find out how an employer’s size affects ERC eligibility
• Learn how much of a revenue loss employers must demonstrate to claim an ERC
• Discover how 2020 and 2021 ERC eligibility criteria differ