System and Organization Control (SOC) Examinations in Montana

We have good news for employers who have not yet taken advantage of the Employee Retention Credit – it’s not too late!

What is the Employee Retention Credit, and how does it work?

The ERC is a relief measure for businesses in the form of a fully refundable federal tax credit.  If your business has been able to keep employees on the payroll since the beginning of the pandemic, this would be a great option to explore if you haven’t done so already.

The general qualifying factors are straightforward:

  • If your business operations were fully or partially impacted by a government order that limited normal operations
  • If your business experienced a decline in gross receipts in 2020 or 2021 when compared to 2019,

If either of these instances applies to you, your business may be eligible to retroactively claim the ERC. The credit can be claimed for prior calendar quarters through September 2021 based on qualified wages. This applies even if your business received a Paycheck Protection Program (PPP) loan, which means there is still a great opportunity to take advantage of a credit that could be significant to your business.

How do you make the ERC work for you?

If you think your business may qualify, we can help you take full advantage of the ERC.  We will:

  1. Assist you in determining what information is necessary to gather and retain;
  2. Calculate the credit based on qualified wages and the number of employees; and
  3. File the necessary amended payroll tax report forms. 

This could be of significant benefit to your business, so you don’t want to wait! Email us today at for assistance or contact our team below.

This article was written by Jan Schweitzer, CPA, CFE, Shareholder, and ERC Specialty Team Leader.


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