We provide a thorough ERC evaluation, prepare all the necessary ERC documentation, file your ERC claim with the IRS, and keep you updated every step of the way.
The #1 ERC Filing Service for Employers
Most businesses, including hospitals, universities, and nonprofits, are eligible to apply for the ERC. The following list represents just a couple dozen examples of businesses that 1st Capital Financial has filed ERC claims:
There are many more businesses that are eligible to apply for the ERC (e.g., we work with more than 65 different ERC industries).
1st Capital Financial’s ERC Filing Service is available to qualifying employers in all 50 states, including:
For 2020, you can claim up to fifty percent (50%) of qualified wages for a maximum credit amount of $5,000.00 per eligible employee for the year.
For 2021, you can claim up to seventy percent (70%) of qualified wages for a maximum credit amount of $7,000.00 per eligible employee per quarter, and $21,000.00 for the year.
Yes, absolutely! If your business was started after February 15, 2020, and your gross receipts have not exceeded $1M annually, you may qualify for the ERC program as a Recovery Startup Business.
Recovery Startup Businesses do not need to demonstrate a reduction in gross receipts to be eligible for ERC, and credits apply through Q4 of 2021.
No, the IRS does not consider ERC funds for income tax purposes.
However, you must reduce deductible wage expenses by the amount of ERC funds you receive. We encourage you to provide this information to your CPA.
Once you have started your ERC application, we will conduct a thorough assessment. This process takes 5 to 10 business days (depending on how quickly you respond to requests and our team’s workload). Assuming you decide to move forward, our CPAs file your amended employer tax returns (Form 941-Xs) and any additional documentation that may be needed, and the rest is up to the IRS. The IRS backlog determines when refunds are released. The IRS currently stipulates a 20-week, or approximately 4-month, turnaround time for ERC processing.
For a quicker turnaround on ERC funds, 1st Capital Financial offers ERC bridge financing.
Yes, you certainly are! The Taxpayer Certainty and Disaster Tax Relief Act (enacted 12/27/2020) modified the ERC eligibility guidelines so that PPP applicants could also take advantage of the ERC program. However, you cannot claim the same dollar-for-dollar funds. We take this into account when processing your ERC claim.