When the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) was signed into law on March 27, 2020, it included two programs to assist businesses with keeping workers employed: 1) the Payroll Protection Program (PPP) and 2) the lesser-known Employee Retention Tax Credit (ERTC).

Here are the differences:

• PPP was administered by the Small Business Administration. ERTC was administered by the Internal Revenue Service.PPP funds are based on 2.5 months of payroll. A minimum of 80% of the funds must be used on payroll to be eligible for forgiveness. PPP funds are not taxable as revenue and you may still take deductions for the payroll covered by PPP.
  

• ERTC funds are credits (or refunds) for a percentage of payroll in each quarter for which you qualify. There are very specific rules for determining eligibility by quarter, and the dollars that can be claimed for each employee are limited.

We work on a contingency basis. There are no upfront charges to get your claim started. When your claim is ready for submission to the IRS, your account executive will reach out to you and discuss your options. You can have our service fee deducted from your rebate check or you can pay before submission and get a reduced rate. (Paying before submission may make more sense in cases where there larger rebate checks.)