CCC is helping employers maximize the new tax credit opportunities introduced in the FFCRA & CARES Act.  It is rewarding to help struggling businesses use these credits to reduce employment tax deposits or to obtain an advanced payment if their credits exceed their deposits.

The Employee Retention Credit is a fully refundable tax credit for qualified wages and health plan expenses paid between March 12, 2020 and January 1, 2021. Our process provides calculation, documentation, and reporting for Employee Retention Credits (ERC) which can be worth up to $5,000 per qualified employee. The credit is based on 50% of qualified wages up to $10,000 and certain health plan expenses per employee, paid during any calendar quarter in which the business experienced one of these economic hardships: 

Full or partial suspension of the operation because of governmental orders limiting commerce, travel, or group meetings due to COVID-19, or

Gross receipts less than 50% of its gross receipts for the same calendar quarter in 2019.

If the employer employed more than 100 full-time employees in 2019, qualified wages are the wages paid to an employee when the employee is not providing services due to either government order or a significant decline in gross receipts. 

If the employer averaged 100 or fewer full-time employees in 2019, qualified wages are wages paid to all employees during any quarter of economic hardship, whether they were working or not.

We have assisted businesses that thought they would not qualify for ERC because they hadn’t paid individuals who were not working but didn’t consider health insurance benefits that had been paid which resulted in payroll tax credits. 

Our process apportions wages to ensure employers adhere to the restrictions which limit using wages for both ERC and WOTC. We document criteria and procedures to protect clients against potential audit exposure. 

Our extensive experience helping businesses navigate through previous payroll tax credits, gives us an in-depth knowledge of the complexities of compliance, documentation, and the filing requirements needed for the Employee Retention Credits. 

Contact Corporate Cost Control to obtain additional information about the Employee Retention Credit or to discuss how our process can benefit your business.

 


Contact CCC to see how we can save your organization time and money.
Contact our Sales Team
(800) 207-6926

Featured Videos

View All Videos

Latest News

Close

Sales

    Your Name:*

    Title:

    Company Name:*

    Company Address:

    Company City:

    Company State:

    Company Zip:

    Number of Employees:

    Your Email:*

    Phone Number:*

    Fax Number:

    Check the boxes below if you wish to receive information on any of the following:

    Unemployment Cost ControlTax Credits & Incentives (WOTC)Employment / Wage Verification

    Your Message:

    Employment & Income Verfication

      Your Name:*

      Title:

      Company Name:*

      Company Address:

      Company City:

      Company State:

      Company Zip:

      Number of Employees:

      Your Email:*

      Phone Number:*

      Fax Number:

      Your Message: