Employee Retention Credits
- Incentivizes retaining employee headcount during COVID-19 pandemic
- Any size employer can qualify, even those started in 2020 or 2021
- More than one way to qualify – drop in revenue or operations disruption due to government orders
- Worth up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021
- Refundable credit against payroll taxes on amended Form 941-X
- Can be taken retroactively up to three years after original 941 was filed
- Interplay with other incentives, such as PPP loans and R&D credit
Phase 1 – Pre-Qualification / Estimate
- Calculate credit estimate using payroll reports, PPP loan documentation and any other applicable records available for qualified quarters
- No fee for this phase
Phase 2 – Detailed Review and Preparation of Report
- Warner Robinson will calculate the final credit amount per quarter using all necessary components and prepare Forms 941-X – everything required to file and claim the tax credits. We also include full audit support if needed at no additional charge.
- Warner Robinson prepares a qualification and methodology report detailing the qualification analysis and credit calculation by quarter.
Why Warner Robinson?
- We are extremely knowledgeable about the ERTC and keep up-to-date with the complex and evolving guidance from the IRS and Congress
- We have helped many of our clients claim millions of Employee Retention Tax Credits
- Warner Robinson is very experienced in handling IRS audits and our team includes a former IRS attorney
- Our principles have nearly 30 years of specialized tax consulting experience including R&D credits, cost segregation, energy credits and more
- Our team develops a unique approach to each of our client fact patterns to maximize credits in each quarter
- We will work with your payroll company and CPA firm to quickly claim any available credits are claimed as quickly as possible
What Components go into the Calculation?
- Payroll reports by employee, by pay period
- Employer and employee portions of healthcare premiums
- Forgiven PPP loan and supporting work papers
- Wages used for certain other credits (if any), such as:
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