2022 Update on the Employee Retention Credit (ERC)

The Employee Retention Credit (ERC) is an incentive for employers who faced declining revenues or experienced disruptions to their businesses due to government-imposed restrictions during 2020 and 2021. Businesses and certain not-for-profit organizations that continued to pay employees during these challenges of the COVID-19 pandemic can still qualify for the ERC, and many recipients are receiving cash refunds.

Martin Karamon, the leader of the Firm’s ERC team, provides insights into selecting an ERC service provider and explains how these services may vary between CPA firms and boutique agencies. Brooks and Sarah follow up with questions about eligibility for ERC in various industries, what has changed from claiming credits in 2020 vs. 2021, and the future for the ERC in 2022 and beyond.


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Brooks E. Nelson

Tax Services

Partner, Cherry Bekaert Advisory LLC

Sarah McGregor

Tax Services

Director, Cherry Bekaert Advisory LLC

Martin Karamon

Tax Credits & Incentives Advisory Leader

Partner, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 7, 2024

22:13

Speakers: Brooks E. Nelson, Sarah McGregor, Martin Karamon

Learn about the ERC's voluntary disclosure program, IRS moratorium, and how employers can navigate claim eligibility and refund processing changes.

Podcast

September 17, 2024

11:45

Speakers: Christopher J. Truitt, Martin Karamon, William W. Billips, Timothy Doran

Learn how transferable energy tax credits under the Inflation Reduction Act offer private equity funds new tax planning opportunities and innovative deal structuring.

Podcast

May 29, 2024

16:25

Speakers: Martin Karamon, Vivian Kohrs

Listen in to learn about intercompany IP agreements and Section 174 implications for overseas R&D. Prevent double capitalization and manage risks.