ERC Eligibility
If your business had U.S. based (W2) employees on payroll during 2020 or 2021 and you answer ‘yes’ to any one of the following 15 questions, you may qualify for ERC refunds of up to $26,000 per employee.
General
1. Can your organization demonstrate a 2020 U.S. revenue loss of 50% or more for a calendar quarter as compared with the same quarter in 2019?
2. Can your organization demonstrate a 2021 U.S. revenue loss of 20% or more in any quarter(s) of the year as compared to the same quarters of 2019?
3. Were U.S. employee hours ever limited by U.S. government (federal or state or local) orders in 2020 or 2021? e.g., Mandatory shutdown / shelter in place orders
4. Were your U.S. employees ever unable to go to work due to U.S. government (federal or state or local) orders in 2020 or 2021? e.g., Mandatory shutdown / shelter-in-place orders
U.S. government (federal or state or local) Restrictions
5. Were there ever any restrictions on the use of your organization’s physical space due to U.S. government (federal or state or local) mandates, thus impacting your ability to serve customers and clients?
6. Did any U.S. government (federal, state, or local) orders obstruct your business from operating at its maximum capacity?
7. Were your employees ever unable to use your physical workspace or your organization’s physical assets due to U.S. government (federal, state, or local) orders?
Social Distancing / Hours
8. Did your business ever have a limitation on U.S. gatherings, (which affected operations) due to U.S. government (federal, state, or local) mandates?
9. Was there ever a partial or complete shutdown of your business due to U.S. government (federal, state, or local) mandates?
10. Did your clients or customers need to socially distance on your business premises due to U.S. government (federal, state, or local) mandates?
11. Were your hours of operation ever limited in any way due to government mandates?
Suppliers
12. Did pandemic-related U.S. government (federal, state, or local) mandates create supplier chain issues that impaired your business’s ability to serve your customers?
13. Did your business ever experience a service provider disruption due to U.S. government (federal, state, or local) mandates during the pandemic?
Remote Work
14. Were your employees ever required to work remotely, limiting their performance and/or your ability to manage/supervise them?
15. Were your employees ever restricted from working on-premises due to U.S. government (federal, state, or local) mandates?
At www.ustax.cpa, we specialize in helping Irish businesses, like yours, with U.S. tax and regulatory matters, including incentives and credits offered by the U.S. government. Our team of experts will guide you through the process, ensuring accurate compliance with all regulations, while helping you unlock the full potential of the Employee Retention Credit.
Conclusion
For Irish businesses operating in the USA, the ERC presents an incredible opportunity to thrive and overcome economic challenges. By taking advantage of this tax incentive, your company can not only strengthen its financial position but also reinforce its commitment to retaining valuable employees.
At www.ustax.cpa we are committed to supporting your growth journey by providing expert guidance in navigating the complexities of the ERC application process.
Contact us today to explore how your Irish business can seize the benefits of the ERC and position itself for long-term success in the dynamic U.S. market. Together, we can unlock growth and drive your business to new heights of success.
If you require further assistance contact erc@ustax.cpa