Employee Retention Tax Credit Information & Update | Ocean Beach San Diego CA | News

Employee Retention Tax Credit Information & Update

"Are you aware of the recent tax law changes from The CARES Act? The CARES Act has once again been amended by Congress and now allows small businesses in San Diego (and nationwide) to now be able to qualify for not only the PPP and the EIDL, but also the ERC - Employee Retention Tax Credit.  It means businesses here in San Diego (and nationwide) can qualify for up to $26,000 per eligible W2 employee through the ERC - Employee Retention Tax Credit, even if they received the PPP and/or the EIDL. It is a tax credit from the IRS, not a grant nor a loan.

The ERC is pretty complicated, and the requirements have changed over time, so you may have heard different things that make you think small businesses can’t benefit from it. I know it can sound too good to be true!

So, to put your mind at ease, I’d like to provide you with some external sources of reference about the ERC:

(the following are hyperlinks - you can grab the full URL by visiting the website but a simple copy and paste works too, just make sure the hyperlink does transfer!)


IRS Website

Journal of Accountancy


U.S. Treasury Department


New legislation allows businesses with 4-499 W2 employees to take advantage of all of them.

Here are the mandatory qualifications to qualify for the ERC (Employee Retention Tax Credit) -- 1 of 4 need to have happened:

ERC qualifications:

  1. 50% reduction in 2020 and 20% reduction for 2021
  2. Revenue shut down or supply chain disruptions
  3. Partial or full shutdown
  4. Must have between 4-499 W2 employees

This is a Covid stimulus package for small businesses. They already got the PPP and/or the EIDL. Now come get the other half.


To see if you qualify: https://ercspecialists.com/?fpr=christopher89

ERC Specialists

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