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SENTINEL CREDIT GROUP

Sentinel Credit Group

Get Up to $26,000

per Employee with

ERC Benefits

  • No Up Front Fees; No Credit Check; This is not a loan

  • Get money from the IRS, even if you got PPP

  • The average return is $200k per application

  • Qualify for ERC in just 5 minutes

  • This is a free tax refund from the government that doesn’t need to be paid back

  • The Employee Retention Credit (ERC) is a federal government cash award available to virtually every small business in America. Generally your business will be entitled to $5,000 for every employee in 2020 and up to $21,000 per employee in 2021. You can qualify for the ERC even if you have received PPP I and PPP II. Food and Beverages companies can qualify for ERC even if awarded an additional Restaurant Revitalization Fund grant.

  • Eligibility
    Under the original law only operations that were either fully or partially suspended by a COVID-19 lockdown order; or, for any quarter in 2020, where there was a 50% reduction from 2019, were eligible.

    In 2021, gross receipts test were made easier only a 20% reduction from 2019 needed to qualify.

    Many companies that did not see a qualifying gross receipts reduction will qualify if “partially suspended” due to governmental orders that limit hours of operations, disrupt supply chains, restrict access to the workplace, limit gathering sizes or require slowdowns for cleaning, among other suspension scenarios.

    ​

    Period of Availability
    The original law only included qualified wages paid after March 12, 2020, and before Jan. 1, 2021. Now the ERC has been extended through September 30th, 2021.

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    Amount
    Under the original law, the amount of the ERC was equal to 50% of the qualified wages paid to the employee, including the cost to continue providing health benefits to the employee. In 2021 the ERC amount is increased to 70% of qualified wages.

    Under the original law ERC was capped $10,000 in qualified wages for all of 2020. In 2021, the qualified wages are $10,000 per quarter, or a maximum ERC of $21,000 for 2021. In all, employers could receive as much as $26,000 per employee for 2020 and 2021.

    ERC....

  • This is the least understood and most under appreciated aspect of selecting your ERC advisor. Our experience with hundreds of clients will help you realize your ERC benefits quickly. Obtaining the benefits requires a payroll tax expertise that none of our competitors have. You must know how to handle payroll coding with all the payroll companies to actually obtain the ERC fully and accurately (within weeks or on your next payroll is no longer an option). Filing a 941X is likely to take up to a year or more to get processed and paid.

  • STEP 1 - QUALIFICATION

    • Qualified Employer

    • Review Facts

    • Government Orders

    ​

    STEP 2 - QUANTIFICATION

    • Collect Data

    • PPP Loans and Use

    • Quarterly Analysis

    • Payroll

    ​

    STEP 3 - FILING

    • 941X – Quarterly

    • Tracking Electronic Review Process IRS

    • IRS Exam Support
      (if audit)

  • QUALIFICATION

    You qualify if you had 1) quantitative comparison of gross receipts in 2020 & 2021 compared to 2019 OR 2) qualitative alternative test based on whether government orders impacted your operations fully or partially due to COVID-19.

    If #2: Questions to Ask

    • Did your employees have to socially distance at work?

    • Did your customers have to socially distance in your business (e.g. tables separated 6 ft at restaurant)

    • Were your business hours limited in some fashion?

      • Cleaning periodically

      • Opening/Closing time

      • Limited hours to sell alcohol after a certain time

      • Restricted from working in the facility?

    • Were operations temporarily shut down?

    • Were employees restricted from going to work?

    • Were employees subject to a curfew that affected hours worked?

    • Was your business to shut down for periodic cleaning and disinfecting?

    • Did your venders create a supply chain disruption? (even if the employer was an essential business exempt from government orders)

    • Did your service providers have disruption that created a supply chain disruption?

    • Was there any limitation placed on working hours? (even if the employer was an essential business)

    • Were there any government orders that affected the business in a way that it could not operate in a comparable manner?

    • Was there any unbundled part of the business in a way that the business part could not operate in a comparable manner?

    • Was there restricted access to the physical workplace?

    • Was there reduced working hours because of pandemic-related operating limitations?

    • Were any imposed limitations on the use of physical space, affecting services?

    • Were any imposed limitations on size of gatherings, affecting the business operations?
      (e.g. number of customers physically in the business)

    • Were your employees denied access to the use of physical workspace space or physical assets?

    • Were your employees required to work remotely causing some limitations in ability to perform comparable duties?

    This test highly subjective and requires a review of your specific circumstances to fully understand qualification and ERC eligibility.
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