Claim Your Employee Retention Tax Credit Today

Don’t leave free money on the table; take advantage of the ERTC while it’s still available. If your business has been affected by the pandemic, you will likely qualify.

Let The Lake Law Firm ERTC Advisors help you maximize your refund amount, up to $26,000 per employee!

WE CAN HELP YOU CLAIM YOUR EMPLOYEE RETENTION TAX CREDIT

What Is The Employee Retention Tax Credit (ERTC)?

A business with employees that was subject to government regulations brought about by the COVID-19 pandemic or that suffered economic losses in 2020 or 2021 as a result of COVID-19 closures is eligible to receive the Employee Retention Tax Credit (ERTC).

As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), ERTC was created to provide businesses with a refundable credit that can be claimed on wages paid to employees. ERTC was devised as an incentive for employers to retain employees on their payrolls when the pandemic began.

Employers should know that ERTC is a refundable payroll tax CREDIT, not a loan. It entitles employers to reductions to payroll taxes or cash refunds. Notably, the ERTC can be applied retroactively to March 12, 2020. This means that you still have the opportunity to claim funds through the federal government to help your business as it continues to navigate this unprecedented pandemic.

Up to $26,000 Tax Refund per W2 Employee

Your business can qualify for up to $26,000 per each W2 employee kept on payroll in 2020 and 2021. Average tax credit is $180,000.

Can Qualify Even If You Got a PPP Loan

You may qualify for the Employee Retention Tax Credit even if you have received a PPP loan. Contact us to confirm.

No Fees Unless You Receive Credit. Zero Risk

We don’t get paid unless we secure your tax refund. You may receive your refund check in as soon as 3-5 months!

We Can Help You Claim Your Employee Retention Tax Credit

IRS forms are complicated. Submitting incorrect information, filing the wrong paperwork, or not being informed about the most recent regulations could delay the credit you are entitled to receive. We will ensure that your forms are properly completed and filed. We will follow the progress of your claim with the Internal Revenue Service (IRS) and make certain that it is being reviewed by the proper parties. We have the knowledge and experience to manage and administer your ERTC claim and can help you get your refund in a timely and efficient manner.

Maximize ERTC

Where Do I Start?

FIRST: Simply apply online by completing the form below.
SECOND: We calculate your maximum credit eligibility and provide you with a risk-free, cost-free tax credit refund estimate.
THIRD: We file and submit all the necessary IRS forms and documentation.

Frequently Asked Questions

How much can I receive under the Employee Retention Tax Credit?

ERTC is a fully refundable tax credit. For qualified wages paid from March 12, 2020 through December 31, 2020, ERTC can be applied to 50% of qualifying wages (which includes qualified health expenses) for eligible employees. Employers can claim 50% of up to $10,000 qualifying wages and health benefits per employee, with a maximum credit of $5000 per employee in 2020.

  • For example, you pay Mary $8,000 wages and healthcare in Q2, $6,000 in Q3, and $6,000 in Q4 of 2020. Your credit amount for Mary is $4,000 in Q2, $1,000 in Q3, and $0 in Q4. Once you hit the $5,000 limit, any additional wages you pay Mary in 2020 will not increase your credit amount.

ERTC is also available for wages paid from January 1, 2021 through September 30, 2021. For periods beginning January 1, 2021, ERTC can be applied to 70% of qualifying wages up to $10,000 per eligible employee, with a maximum credit of $7000 per employee for each quarter of 2021.

  • This equates to a maximum credit of $21,000 per employee in 2021, and a total of up to $26,000 per full-time W-2 employee for both 2020 and 2021.

Who is not eligible?

The ERTC is available to businesses that experienced a drop in revenue or had their operations affected by a governmental mandate and kept their employees on payroll during the pandemic.

That said, there are a few exceptions for our ERTC services, including:

  • State and local government employers
  • Self-employed individuals with no employees
  • Businesses with less than 3 full-time W-2 employees
  • 1099 employees
  • The business owner and family members

Contact us today if you are still uncertain if you qualify for the ERTC. In just a short time, The Lake Law Firm can determine whether your business is eligible.

How much do we charge?

The beauty of working with The Lake Law Firm is you don’t pay us anything until and unless we recover funds for you! We work on a contingency fee, meaning we only get paid if we successfully secure your refund. With our ERTC services, there are no upfront costs, and we even provide free case evaluations.

When we submit the calculation to the IRS, we generate an invoice for your company. The amount owed is due when your business receives the refund from the IRS. If you do not receive a check, then you owe us nothing.

What happens next after I apply?

After applying, you sit back with peace of mind knowing that our skilled ERTC accountants and attorneys are working on filing your claim. We complete and submit the complicated IRS forms, so you don’t have to.

Then you wait to receive your check from the IRS. Turnaround time for the ERTC refund varies, but we have helped some businesses get their refund in as little as 3 to 6 months.

What are the steps in recovering my funds?

Partnering with The Lake Law Firm makes the ERTC process easy and straightforward.

  • Apply online by filling out and submitting our short questionnaire
  • We schedule a no-obligation ERTC evaluation to speak with you and collect the necessary documents to start your claim
  • You receive a claim package to review and sign
  • Once the information is verified, we file and submit all IRS forms
  • You receive a check from the IRS

Why did I receive a contract to sign?

After filling out the questionnaire, you will receive a contract. We send out this contract to expedite the process, but you are not obligated to sign.

If you are confused about why you received a contract, please contact us immediately. We are happy to speak with you and answer any other questions you may have about the ERTC.

Why should I use The Lake Law Firm?

While you can file an ERTC claim directly on your own or even seek other advisors, The Lake Law Firm’s ERTC services are second to none.

Since we are a law firm, we handle ERTC claims ethically and safely. Our professional team consists of attorneys and CPAs that provide multiple quality checks to ensure your ERTC claim is legal and honest. With our detail-oriented staff, all calculations are done correctly, and we only present truthful facts to recover your money. Plus, we only submit your ERTC claim after you verify it is correct.

Also, our services minimize the risk of audits. However, if you are audited, our capable attorneys will provide a comprehensive audit defense at no extra cost.

Who decides who qualifies?

The government has determined the guidelines for the ERTC.

A CPA or payroll company may have advised you that your business is ineligible because it did not suffer a decline in revenue. Yet, a drop in revenue is not the only qualifier.

The Lake Law Firm has extensive experience handling ERTC claims. Therefore, we have considerable knowledge of ERTC eligibility requirements. We can quickly determine if you can recover the ERTC refund through a complimentary case evaluation.

How do I know it is not a scam?

The Employee Retention Tax Credit is a legitimate program created by the federal government to assist businesses affected by the COVID-19 pandemic. You can visit the official IRS website and see that it is a valid program the government offers to aid businesses.

Some employers worry about third parties scamming them by saying they qualify when they actually don’t. However, The Lake Law Firm is a recognized law group with experienced attorneys and CPAs.

What is the purpose of ERTC?

The purpose of the ERTC is to reward businesses that kept employees on payroll during the pandemic. This program has set aside $50 billion to pay businesses that suffered a decline in revenue OR were affected by governmental mandates and maintained their staff.

Why was the ERTC created?

The pandemic was a very challenging time, especially for businesses. Governmental mandates, travel restrictions, decreased revenue, and more limitations forced many business owners to lay off employees. The ERTC was initially an incentive for business owners to retain employees.

In March 2020, the government created the ERTC under the Coronavirus Aid, Relief and Economic Security (CARES) Act to encourage businesses to keep employees on their payroll.

How can the ERTC help my business?

The ERTC can greatly benefit your business since it is essentially free money. Our ERTC services require very little work and input from business owners. You can focus on your business instead of spending time applying for the ERTC by yourself. When you team up with The Lake Law Firm, we do the work to maximize your credit to recover up to $26,000 per W-2 employee.

That amount can aid your business tremendously. When operating a business, every penny counts. ERTC money can assist your business in its recovery from COVID-19 and help it thrive.

Can I apply with no employees?

Unfortunately, self-employed individuals do not qualify for the ERTC. You are not eligible for the ERTC for your own wages. However, if you employed individuals besides yourself and family members, you could claim the ERTC for wages paid to those employees.

What can I do with my ERTC money once obtained?

Once you have the check in hand, the possibilities are endless. You choose how you use the money recovered through the Employee Retention Tax Credit.

Reinvesting in your business is a fantastic way to use the ERTC money. You can use your ERTC refund to employ more staff, expand your operations, update equipment, fund a new venture, and more.

Is this a loan?

The Employee Retention Tax Credit is NOT a loan. Unlike PPP, the ERTC is a permanent tax refund.

Do I have to pay back this credit?

No, you never have to pay back the Employee Retention Tax Credit since it is not a loan! The government owes you this money. Once you claim the ERTC refund, you decide what to do with the funds.

When is the deadline to apply?

  • April 15, 2024, is the deadline to file an ERTC claim for 2020 credits
  • April 15, 2025, is the deadline to file an ERTC claim for 2021 credits

What types of businesses qualify for the Employee Retention Tax Credit?

Employers in a variety of industries may qualify for ERTC including education, government contractors, healthcare, hospitality, retail, industrial, not-for-profit, professional services, real estate, construction, and technology.

  • If you are self-employed or a state or local government employer, then you are not eligible to receive ERTC for your wages or your government employees’ wages.
Industry Professionals

Is my business eligible to receive both Paycheck Protection Program and Employee Retention Tax Credit?

The CARES Act included two programs to help businesses maintain their workforces: the Payroll Protection Program (PPP) administered by the Small Business Administration (SBA) and the ERTC administered by the IRS. Previously, applicants receiving a PPP loan during the initial round of relief could not also apply for ERTC tax credit, but the regulations have changed! Revisions to the CARES Act on December 27, 2020, under the Consolidated Appropriations Act, 2021, (CAA) permits qualifying parties to receive relief from both PPP loans and ERTC. Those who received PPP loans may qualify for ERTC retroactively to March 12, 2020.

Paycheck Protection Cares Act

You may be eligible for retroactive 2020 ERTC if:

Your business was partially or totally impacted during any calendar quarter as a result of a COVID-19 federal, state, or local government order OR

Your business revenue dropped by 50% or more in any quarter of 2020 compared to the same quarter in 2019 or the immediately preceding quarter.

You may be eligible for the 2021 ERTC if:

Your business was partially or totally impacted during any calendar quarter as a result of a COVID-19 federal, state, or local government order OR

Your business revenue dropped by 20% or more in any quarter of 2021 compared to the same quarter in 2019 or the immediately preceding quarter.

Approved Loan Application

Things that qualify you for the ERC include:

  • Supply chain disruptions
  • Time taken away from shifts to clean/sanitize
  • Time to wear PPE
  • Federal, state or local mandates required your business to fully or partially shut down
  • Limitations on the number of people you could have in a room or building
  • Inability to attend normal networking events
  • Disruptions to your sales force’s ability to function normally
  • Limited capacity to operate
  • Inability to work with vendors
  • Reduction to the services or goods offered to customers
  • Reduction to the hours of operations
  • Shifting of hours of operations to increase facility sanitation
  • Delayed or canceled projects due to Covid related disruptions
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FIND OUT WHAT WE CAN DO FOR YOU

What is the maximum employee threshold in order to be eligible for the Employee Retention tax Credit?

To be eligible for ERTC in 2020, employers must employ 100 or fewer full-time employees, even if the employee was working. The employee threshold was expanded under the amended law. To be an eligible for ERTC in 2021, employers may employ 500 or fewer full-time employees, even if the employee was working.

Employees working in an office

Do I need to apply for Employee Retention Credit the same way I applied for Paycheck Protection Program?

In order to receive PPP loans, you were required to apply through the SBA. Unlike PPP, there is no “application” for ERTC. You simply claim ERTC tax credit by verifying that you are legally entitled to it – just like any other tax credit. The process is simple:

  • To claim an ERTC tax credit, a Form 941 Employer Quarterly Tax Filing is filed.
  • To claim an ERTC credit for prior quarters, an amended form (Form 941-X) is filed to reduce your current quarter’s tax contribution and apply for a refund.
  • You can even estimate the ERTC credits you will receive in advance of allocating payroll so you can file a Form 7200 to obtain a cash advance right away.
Employee Retention Tax Credit Form

Can my Accountant or Bookkeeper apply for the Employment Retention Tax Credit on my behalf?

Your ERTC credits are claimed against employment taxes on Form 941 and your cash is advanced through Form 7200. Your CPA may be busy handling your Federal and State Income Tax Returns and may not be prepared to also manage your ERTC claim. Similarly, while bookkeepers have access to the documentation you need to file an ERTC claim, they may not have the time or ability to become familiar with the complex and lengthy regulations involved in ERTC calculations, including, the CARES Act, PPP Payroll Flexibility Act, the CAA, and the accompanying IRS interpretations. Our Lake Law Firm ERTC advisors are dedicated to one mission- getting your tax payroll credits as quickly as possible.

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About Us

The Lake Law Firm was founded by Edward J. Lake, Esq., a lawyer with more than 25 years of experience. Our dedicated team of professionals is committed to maximizing the CARES Act Employee Retention Tax Credit for your business. We have assisted hundreds of businesses in applying for and obtaining Employee Retention Tax Credits, enabling them to maintain their workforces during the COVID-19 pandemic. The team of professionals at Lake Law Firm will advocate for your tax credit claim in a timely and efficient manner. Please contact us for a free consultation by submitting an inquiry on this page to determine if you qualify.

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