R EBUILDING C OMMUNITIES T AX C REDIT P ROGRAM 2025

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Yes, you can apply for the ERC yourself if youre confident in understanding if your business is small or large based on the number of employees, how the 2020 requirements compare to 2021s, how to work out a substantive decline in operations, calculating qualified wages and completing Form 941.
You may qualify for ERC if your business or organization experienced a significant decline in gross receipts during 2020 or a decline in gross receipts during the first three quarters of 2021.
Recent History of the CTC. The American Rescue Plan Act (ARPA) increased the Child Tax Credit (CTC) for tax year 2021. Tax filers could claim a CTC of up to $3,600 per child under age 6 and up to $3,000 per child ages 6 to 17. There was no cap on the total credit amount that a filer with multiple children could claim.
For 2021, the employee retention credit (ERC) is a quarterly tax credit against the employers share of certain payroll taxes. The tax credit is 70% of the first $10,000 in wages per employee in each quarter of 2021. That means this credit is worth up to $7,000 per quarter and up to $28,000 per year, for each employee.
The Residential Clean Energy Credit equals 30% of the costs of new, qualified clean energy property for your home installed anytime from 2022 through 2032.

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Who qualifies for the RD credit? Any company engaged in activities to develop or improve products, processes, software, formulas, techniques or inventions in a way that required some level of technical experimentation to determine the most accurate and appropriate design may qualify for the RD credit.
Previously shared signs of an incorrect ERC claim include too many quarterly periods being claimed; government orders that do not qualify; too many employees and wrong calculations; a business that cites supply chain issues; businesses claiming the ERC for too much of a tax period; businesses that did not pay wages or

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