Employees-based Credit and Refunds for USA Companies
BlueSeed has partnered with a company to help US companies access Employee Retention Credit (ERC), a refundable payroll tax credit, which most companies do not know they qualify for. The bill, which was passed into legislation in March 2020, was too stringent. Since that time the qualifying factors have been amended to where most companies can qualify independent of revenue; or whether they made a profit or loss. Qualifying on “disruptions” allows companies to show how their business was actually affected by Covid.
Most lawyers and CPAs are not up to date on the full legislation regarding the ERC because it is very timely to review the original legislation and the amendments to it.
On average, our partner qualifies companies between $15k - $20k, or up to $26k, per employee returned back in ERC stimulus and refunds. All of this is dependent upon the client's individual ERC situation which their tax specialist team will help determine.
We require the Form 941-X files, i.e. the Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund.