We are monitoring a bill in Congress that would make the deadline for all Employee Retention Credit (ERC) claims January 31st, 2024. Until there is further clarification on the progress of this bill, we are no longer accepting new applications. If you have any questions, please reach out to us at support@ercfulfillment.com
The COVID-19 pandemic dramatically changed the restaurant industry. In a matter of a few days, restaurants were forced to transition to take-out only or were shut down entirely. A report from the National Restaurant Association assessed that many restaurants would never make a full recovery to their pre-pandemic state. A study published by the National Library of Medicine estimated that 15 percent of U.S. restaurants went out of business because of the pandemic. Most restaurants suffered losses in the form of reduced revenue or additional expenses.
Every restaurant in the United States can qualify for the ERC. There are actually two different ways to qualify for an ERC tax refund as a restaurant: 1) A substantial loss in revenue or 2) Your business was subject to a partial or full government shutdown order.
Examples of restaurant shutdown orders include: