Employee Retention Credit Services

Learn if you’re eligible for up to $26,000 per employee: Trusted ERC Service

Maximize your benefits with our Employee Retention Credit services. At SSL Associates, we're dedicated to helping businesses in Chicago and nationwide navigate the complexities of ERC eligibility, calculation, and application to achieve optimal financial relief and retention strategies.

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SSL Associates Ltd.
Employee Retention Credit

Trusted Chicago ERC Specialists Serving Nationwide

At SSL Associates, we're dedicated Chicago-based ERC specialists offering tailored solutions nationwide. With our expertise in Employee Retention Credit (ERC) eligibility, calculation, and application, we empower businesses across the country to maximize financial relief and retention strategies.

Whether you're a small enterprise or a large corporation, our team is committed to navigating the complexities of ERC with precision and efficiency. Trust SSL Associates to guide you through the intricacies of ERC, ensuring you access the support you need to thrive in challenging times. Let's elevate your financial strategy together, no matter where you are.

Who Is Eligible to Claim the ERC?

The Employee Retention Credit (ERC) is available to eligible employers who meet specific criteria outlined by the IRS.

Wages Period

Two specific wage periods are covered by the ERC:

The 2020 wage period started March 13 of that year until December 31 of the same year.
The 2021 wage period started January 1 of that year until December 31 of the same year.

Eligibility

Eligibility for either year could have resulted from your business experiencing a partial or full shutdown due to pandemic restrictions and the impact on the economy. For 2020, you could also qualify if your business experienced a loss of gross receipts more than half of what you would have had in a comparable quarter during 2019. For 2021, the decline threshold was only a 20% loss of gross receipts compared to 2019 quarters or possibly 2020 in some situations.

Large Employer Definition

The definition of a large employer was different for each year:

For 2020, an employer with more than 100 full-time employees in 2019, via the ACA definition, qualified.
For 2021, an employer would have needed over 500 full-timers in 2019 via the ACA definition.

The ERC program had complex eligibility requirements. Claiming the credit incorrectly can have serious consequences, including penalties and interest from the IRS, which has already recouped over $1 billion in fraudulent ERC payments.

That's where SSL Associates comes in. Our team of tax specialists can help you navigate the intricacies of the ERC and determine if your business is eligible for unclaimed credits.‍

Our ERC Services: Maximizing Your Recovery

SSL Associates can be your valuable partner in navigating the complexities of the program and maximizing your potential recovery. Here's how we can help

Eligibility Assessment

We'll thoroughly assess your eligibility against the ERC program's requirements, considering factors like gross receipt decline, qualified wages paid, and any relevant exceptions.

Potential Credit Calculation

If you qualify, we'll calculate the maximum ERC credit amount your business might be entitled to claim.

Streamlined Filing Assistance

We'll compile all necessary documentation and prepare the required submissions before sending them to the IRS on your behalf.

Compliance and Risk Mitigation

Our expertise helps minimize the risk of errors or penalties associated with claiming the ERC. We guarantee your claim adheres to all program regulations.

Clear Communication Throughout

We'll keep you informed every step of the way, explaining complex aspects of the ERC program so you understand the ins and outs.

Don't leave potential tax relief unclaimed. Let SSL Associates be your trusted advisor in maximizing your ERC recovery.

Recover What You Deserve: Contact Us to Discuss Your ERC Options

Get experienced help from our experienced CPAs & claim what your business deserves!

Schedule Consultation

(630) 819-6040

Employee Retention Credit Overview in 2024

The Employee Retention Credit (ERC) has undergone significant changes and scrutiny in 2023 and 2024. Here’s an overview of the current status:

Moratorium on New ERC Claims

In September 2023, the IRS announced an indefinite moratorium on processing new ERC claims filed after September 14, 2023. This moratorium was put in place to address concerns about aggressive and unscrupulous marketing of the ERC by unqualified firms filing improper claims.

During the moratorium, the IRS did not process any new ERC claims, and the processing time for existing ERC claims submitted before September 14, 2023 has been extended, often in excess of a year. Businesses can still file ERC claims for eligible quarters through April 15th 2025.

Increased Scrutiny and Enforcement

The IRS has been aggressively pursuing and disallowing improper ERC claims, having recouped over $1 billion in fraudulent payments as of March 2024. Businesses that claim the ERC but aren’t eligible face potential penalties, including criminal charges and fines up to $250,000.

Increased Scrutiny and Enforcement

Let's Analyze Your Eligibility. Reach Out Today.

Our tax specialists ensure accurate eligibility assessment for your unclaimed ERC benefits.

Schedule Consultation

(630) 819-6040

Which Businesses Can Benefit from ERC?

Leverage the advantages of the Employee Retention Credit (ERC) for your business. At SSL Associates, we specialize in assisting businesses of all sizes and industries in navigating ERC eligibility and maximizing financial relief

Non-profit Organizations

We assist nonprofits to navigate ERC eligibility and maximize financial relief for their vital missions.

For-Profit Businesses

We provide comprehensive audit & assurance services to businesses, delivering thorough evaluations that enhance transparency and build stakeholder trust. Our approach combines traditional methods with innovative techniques to offer reliable and effective auditing solutions.

Why Choose SSL Associates for ERC Claim?

Expertise

Tap into our deep knowledge of ERC regulations and procedures for accurate and effective claims.

Efficiency

Streamline your ERC process with our efficient and timely assistance that saves you valuable time and resources.

Maximization

Trust us to help you maximize your ERC benefits, ensuring you receive the full relief you're entitled to.

Compliance Assurance

Rely on our expertise to ensure your ERC claim is compliant with IRS regulations and guidelines

Hear from Our Clients

Seamus Naughton, Lake Shore Glass

5.0

As the owner-operator of a construction company, my hours are spent focusing on the operational aspects of our business. Managing our year-end financials was an unwelcome challenge that was a large drain on my time. Having SSL Associates, Ltd. freed me to focus my attention where it best served my company, and gave me peace of mind that our accounting would be done accurately, professionally, and on time. Their ability to work hand in hand with our accounting department allows us to tackle problems as they arise throughout the year to ensure all tax & financial reporting deliverables are free of any last-minute headaches.

Steve Brown, VP Business, Sabre Hockey Association

5.0

SSL Associates, Ltd. has been an invaluable resource for our youth hockey non-profit organization. Their team's expertise in tax compliance and financial reporting has been instrumental in ensuring transparency and accountability to our many families, donors and stakeholders. Their commitment to excellence and their deep understanding of the non-profit sector have made them an indispensable part of our success and a valued partner that we trust and rely on for their guidance.

Kristin Newell, Director of Finance and Administration, Evolution Soccer Club

5.0

When we started the not-for-profit youth travel soccer club, we quickly grew large enough that we are required to be audited by an independent accounting firm each year. We have used SSL Associates Ltd. for the past seven years and couldn’t be happier with their services. SSL also helped us make improvements to our Quickbooks so that the Audit is now very efficient. Their responsiveness and expertise in non-profit accounting has enabled our staff to stay focused on our mission of providing a competitive and positive learning environment to develop our players both on and off the field.

Mark Huelskoetter

5.0

SSL Associates has been a trusted advisor to Wenzak for many years. Their knowledge and valuable insights around tax and reporting impacts of business issues has helped us to navigate key decisions and stay focused on our core business. We greatly appreciate the personal approach and responsiveness of the entire team.

Reach Out Today!

Let's analyze your eligibility. Our tax specialists ensure accurate eligibility assessment for your unclaimed ERC benefits.

1064 104th Street Suite 100, Naperville, Illinois 60564

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FAQs

Can businesses claim the ERC if they have received PPP loans?

Yes, businesses can claim the ERC even if they have received Paycheck Protection Program (PPP) loans. However, they cannot claim the ERC for wages that were paid with forgiven PPP loan proceeds.

What is the maximum ERC amount a business can claim?

The maximum credit was different for each year:

In 2020, the maximum credit was $5,000 per employee, per year.
In 2021, the maximum credit was $7,000 per employee on a quarterly basis.

What types of wages are eligible for the ERC?

Eligible wages for the ERC include certain qualified wages paid to employees during specific periods affected by the COVID-19 pandemic. This includes wages, certain healthcare costs, and employer-provided benefits.

Can businesses claim the ERC retroactively?

Yes, businesses that were eligible for the ERC in previous quarters but didn’t claim it can amend their employment tax returns to claim the credit retroactively. However, businesses must meet the eligibility criteria for each respective quarter they’re claiming the credit for.