Employee Retention Credit

Your Tax Incentive Experts

We’ve secured half a billion dollars in Employee Retention Credits

Omega is your government tax incentive expert. We strive to help our clients achieve the best possible options for their business.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law in late March 2020, provides economic relief to businesses and individuals. The stimulus package, which made $370 billion in funding available to small companies, contains a provision allowing certain employers to claim a tax credit for retaining employees during the crisis.


Employee Retention Credit (ERC)

The Employee Retention Credit (ERC) is a refundable payroll tax credit created under the CARES Act that rewards employers with up to $26,000 per employee they retained during the COVID-19 pandemic. The ERC is part of the greater pandemic relief fund that helps support employers amid the economic fallout caused by the Coronavirus.

The ERC awards up to $5000 for each employee in 2020 and up to $7000 per employee for each of the first three quarters of 2021.

How Do Businesses Qualify for the ERC?

To qualify for the ERC, your business must meet both qualifications:

  1. Employee Count:
      To qualify in 2020, you must have had 100 employees or less in 2019. To qualify in 2021, you must have had 500 employees or less in 2019.
  2. Business Impact EITHER
      • Your business experienced a full or partial suspension of business operations due to a government order.

    OR

    • Your business suffered a decline in revenue of 50% or more in 2020 and/or 20% or more in 2021, when compared to the same quarter in 2019

How Do Eligible Employers Obtain Their ERC?

Eligible employers can still claim the ERC tax credit today by retroactively amending their 2020 or 2021 payroll taxes with IRS Form 941-X.

Omega works with eligible employers by reviewing the relevant financial records to calculate the expected ERC refund amount. Our talented team will complete and file the relevant IRS forms on the business’s behalf and prepare and retain all supporting documentation.

Why Choose Omega as My ERC Provider?

Many inexperienced ERC specialists have started up in the last two years that are abusing the ERC. IRS auditors are now targeting these “ERC mills,” and you need a tax credit specialist that you can trust.

Omega Accounting Solutions is different.

We perform a due diligence double-check to provide audit protection* to each client, ensuring your business meets the IRS’s official ERC qualifications. We maximize your ERC refund while staying within the law, and provide documentation to back up your ERC claim.

*Audit protection is a detailed document that substantiates your ERC claim.


Key Program Benefits

  • Claim the tax credit on employee wages paid between March 12, 2020 and December 31, 2020
  • Recover up to 50% of the first $10,000 paid to each employee for the year
  • Eligibility for the credit – EITHER a reduction in gross receipts of at least 50 percent from the comparable quarter in 2019 OR impacted by a state or local government order
  • 100-employee delineation for determining the relevant qualified wage base (based on 2019 employee count)
    • Claim the ERC credit on employee wages paid between January 1, 2021 and September 30, 2021
    • Recover up to 50% of the first $10,000 paid to each employee for the year
    • Eligibility for the credit – threshold drops to 20 percent. Safe harbor allows employers to use prior quarter gross receipts to determine eligibility.
    • To qualify, your business must have: EITHER a reduction in gross receipts of at least 20% from the comparable quarter in 2019 OR been impacted by a state or local government order
    • 500 full-time employee delineation for determining the relevant qualified wage base (based on 2019 employee count)
    • Employers who receive PPP loans may still qualify for the ERC with respect to wages that are not paid for with forgiven PPP proceeds (retroactive to the CARES Act)
    • Allows startup employers who were not in existence for all or part of 2019 to be able to claim the credit. This new provision is retroactive to the effective date included in Section 2301 of the CARES Act
    • IIJA retroactively amends and limits availability in the fourth quarter of 2021 to a recovery startup business or businesses that began operations after February 15, 2020

$500+ Million in ERC Credits for Our Clients

Recent ERC Clients
$140K
ERC Amount
$601K
ERC Amount
$367K
ERC Amount

Get paid in 3 Steps

Step 1

Upload and calculation

Upload several documents through our secure portal and our experts will calculate the amount you’ll receive for your employee retention tax credit.

Step 2

Amended returns

We’ll prepare and audit all the documentation and help you file your 941x amended returns.

Step 3

Get paid

You’ll receive a check directly from the IRS. Get your employee retention tax credit check now.