The Employee Retention Credit (ERC) is a cash refund available to companies and nonprofit organizations for six quarters spanning 2020 and 2021. Through the ERC, employers can get up to $26,000 per qualifying employee. Virtually every business, practice, or organization in the healthcare industry can qualify for the ERC—and you can still file for the ERC tax credit for both 2020 and 2021.
At Sunrise Business Solutions | ERC Guaranteed, we know how employers qualify for the ERC. Serving every type of business in the healthcare industry, our ERC specialists have helped many clients secure the maximum ERC. Your business could receive three to seven times more than it got from the Paycheck Protection Program (PPP). Call us at 1-888-210-8870 or contact us online to set up a free, no-obligation Employee Retention Credit (ERC) assessment. Our free assessment tells you exactly how much ERC money you will get.
Understanding the Employee Retention Credit (ERC)
The Employee Retention Credit (ERC) is a provision in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). It is not the same thing as the Paycheck Protection Program (PPP). Healthcare practices and medical providers should still file for the ERC regardless of whether or not they got PPP funds. These are two different programs.
The ERC is a tax credit in the form of a check sent to you by the IRS. It reimburses employers—including all types of healthcare providers and health industry businesses/organizations—that pay employment taxes during six quarters spanning the latter part of 2020 and the early part of 2021. A maximum of $26,000 per worker is available as a cash refund through the ERC.
How Do Healthcare Providers Claim the ERC
To get the Employee Retention Credit, a healthcare provider or medical industry business must meet the federal standards for the tax credit. You can qualify for the ERC for any or all of the final three quarters of 2020 or the first three quarters of 2021. Here are the two main ways to qualify:
- A healthcare provider or medical industry business was at least partial suspension* due to a government order; or
- A healthcare provider or medical industry business suffered a substantial revenue decline—defined as 20 percent in a quarter in 2021.
It is important to emphasize that a healthcare provider only needs to meet one of those two eligibility criteria.
* Partial suspension is a broad term. It includes things like social distancing requirements, capacity restrictions, and cleaning and sanitizing rules. In other words, essentially every healthcare provider nationwide can qualify for the ERC.
We Help Every Business in the Healthcare Industry Maximize their ERC
You can count on the team at Sunrise Business Solutions | ERC Guaranteed to deliver the maximum Employee Retention Credit tax refund—guaranteed. Working with clients nationwide, we serve all industries. Our ERC specialists have deep experience assisting healthcare providers and medical industry business. Along with other types of companies and organizations, our team works with:
- Hospitals (Elective Surgeries): Hospitals were affected by the COVID-19 pandemic. A significant financial impact was felt from the cancellation or delay of many elective surgeries. The American Hospital Association (AMA) reports that hospitals lost more than $50 billion in revenue nationwide in 2021 alone.
- Nursing Care Facilities: Nursing homes and other assisted living centers can qualify for the ERC. A significant share of businesses and organizations in nursing care have already applied for and received their ERC benefits—but there are still gaps. If your nursing home/assisted living facility has not yet applied for the ERC, it is time to act.
- All Therapists (Speech, Eye, Vision, Physical, etc): All therapists nationwide can apply for ERC benefits. Social distancing requirements, capacity restrictions, cleaning and sanitizing standards, or a loss in revenue can support an ERC claim. We know how to help all types of therapists qualify for the maximum ERC benefits.
- Home Healthcare Agencies: Home healthcare agencies were heavily impacted by the COVID-19 pandemic. Social distancing, canceled patient services, and cleaning/sanitizing standards can all independently make a home health company eligible for the ERC. We can help you get the maximum benefits.
- Dentists: A study cited in The Washington Post found that 30 percent of health-related appointments were canceled during the worst stages of the COVID-19 pandemic. An even higher share of dental appointments, especially routine cleanings, were postponed. We help dentists qualify for the ERC.
- Chiropractors: Chiropractors can qualify for the ERC based on a partial government shutdown (social distancing, cleaning/sanitizing, etc) or a significant loss in revenue. Our ERC specialists help chiropractors qualify for benefits nationwide.
- Medical Transportation: With a dramatic increase in telemedicine, the pandemic has had major ramifications for medical transportation. Medical transportation companies can file for the ERC if they suffered a loss in revenue or were subject to government restrictions. Every medical transportation company should claim ERC benefits. Our ERC specialists help medical transportation companies qualify for tax benefits nationwide.
This list is just a small sample of the healthcare providers and medical businesses/organizations that our ERC specialists work with. Our healthcare employers we assist include medical clinics, doctors/physicians, specialists, optometrists, outpatient care, kidney dialysis centers, psychiatric & mental health professionals, and much more. The bottom line is that any business or organization that operates in the medical industry can file for the Employee Retention Credit. Virtually every employer that paid employment taxes in 2020 and/or 2021 can qualify for a tax refund.
How ERC Guaranteed Helps Healthcare Providers Maximize the ERC
It is no secret to those in the healthcare industry that providers and businesses were affected by the pandemic. The Employee Retention Credit (ERC) offers tax benefits for employers that kept workers on the payroll in 2020 and 2021. There may be as much as $26,000 per employee available to healthcare providers and other medical industry businesses. At Sunrise Business Solutions | ERC Guaranteed, our sole focus is the ERC. We go above and beyond to help clients maximize their ERC—guaranteed. With our team, you will have an opportunity to work with an ERC specialist for healthcare providers who will:
- Offer a No-Risk, Comprehensive ERC Assessment: Are you a healthcare provider in any of the 50 U.S. states? Do you want to know how much you can get through the Employee Retention Credit? Our ERC specialists are more than ready to help. We provide a no-risk, no obligation, and fully confidential ERC assessment to businesses and organizations. Our team of ERC experts will carefully review your eligibility and tell you exactly how much ERC you will get. You do not pay anything if you do not qualify for a cash tax refund—though almost every business qualifies.
- Calculate Your Full ERC Benefit (Every Quarter): Our ERC specialists are devoted to both minimizing fees and maximizing our clients’ ERC tax refund. We are prepared to calculate your ERC benefit for each of the six quarters. A maximum of $26,000 in total ERC benefits is available for each employee that a healthcare provider retained during the COVID-19 pandemic in 2020 and 2021. Sunrise Business Solutions | ERC Guaranteed has a proprietary method through which we can make sure that you maximize your ERC.
- Guide Healthcare Providers Through the Application Process: It is no secret that taxes are complicated. The ERC application process can be confusing. The good news is we make it easy and seamless. The only thing you have to do is to provide some basic documentation. Our ERC specialists will handle the rest. We will guide you through the application process so that you can get the full tax refund that your healthcare business or organization is owed. Our team also offers lifetime audit protection. Your Berkshire Hathaway Insurance provides full protection in the case of any audit.
- Facilitate Your ERC Payment (Can Be 3 to 7 Times PPP Benefits): The ERC tax refund is different from PPP benefits. There are no restrictions on how ERC funds are used. You can invest in your healthcare business or you can pay yourself back for hard work and/or cost borne during 2020 and 2021. It is your choice. Our team will facilitate your ERC payment. You may receive up to six separate checks from the IRS. ERC benefits can be three to seven times higher than PPP benefits.
It is not too late to apply for your Employee Retention Credit for 2020 or for 2021. As the law contains a multi-year lookback period, businesses and organizations that already submitted their tax return for either year can file an amended return to get their ERC. The ERC specialists at Sunrise Business Solutions | ERC Guaranteed are standing by, ready to help you secure the maximum cash refund through the tax credit.
Contact Our Employee Retention Tax Credit Specialists Today
At Sunrise Business Solutions | ERC Guaranteed, our ERC specialists have extensive experience working with clients in the health industry. We have helped many companies maximize their ERC compensation. If you have any questions about applying for the Employee Retention Credit as a health provider or medical industry business, we are more than ready to help. Give us a call at 1-888-210-8870 or contact us online to get started. Our ERC specialists provide nationwide guidance and support to healthcare providers and health industry companies.