Are you eligible?
3 Ways for Business Eligibility
There are three ways that a business can be eligible for the ERC, however, a business must have W2 employees. A business must also meet one out of the three to be eligible for a refund.
Decrease in Revenues
If your business experienced a qualifying decrease in revenue in 2020 or 2021.
Operational Restrictions
If your business operations were restricted due to a government mandate.
Recovery Startup
Any business started after February 15, 2020 is eligible.
Eligibility
Decrease in Revenues
2020: If a business experienced a decrease in revenue of 50% or more in a quarter of 2020 compared to the same quarter of 2019, they are eligible for the quarter with the decrease in addition to the subsequent quarter.
2021: If a business had a 20% decrease from a quarter in 2021 compared to the same quarter in 2019, they qualify for that quarter and the next quarter automatically.
Eligibility
Operational Restrictions
If a business experiences operational restrictions due to government mandates, they are eligible for the period of time that those restrictive mandates were in effect. These mandates must come from a governmental body such as a local, state, or federal body. Recommendations by the CDC or OSHA are not considered government mandates.
Eligibility
Recovery Startup
Any business that was started after February 15, 2020 is automatically eligible to claim Q3 and Q4 of 2021. These businesses can receive a maximum of $50,000 for each of those two quarters for a grand total of $100,000.