As you may be aware, the IRS has recently made some changes to the ERC program that we want to address. The reason for these changes is an increasing amount of fraudulence due to unscrupulous companies newly entering the ERC space and not following IRS protocol, or worse, committing intentional fraud. The IRS has been overwhelmed by a great deal ...

The Employee Retention Credit (ERC) has been a lifeline for businesses navigating the challenges posed by the COVID-19 pandemic. If you’re eligible for this credit and haven’t yet claimed it, don’t worry – it’s not too late. In this comprehensive guide, we’ll walk you through the process of filing your 941-X form to claim the ERC in 2023. What is ...

As businesses navigate the economic challenges posed by the pandemic, government relief programs like the Employee Retention Credit (ERC) have become crucial. In this comprehensive guide, we’ll delve into the significance of the ERC for businesses in 2023. We’ll explore the intricacies of ERC application deadlines and provide insights into the typical processing times for ERC refunds. By understanding these ...

In the ever-evolving landscape of government assistance programs, two standout initiatives have been providing a lifeline to businesses grappling with economic uncertainties: the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC). While these programs share the goal of supporting businesses during turbulent times, understanding how they intersect and impact each other is essential for maximizing financial benefits. In ...

If you have your own business, taxes might be one of the most important things on your to-do list. In the U.S, getting your tax return exactly right is essential to saving your company money, running everything smoothly and avoiding fines. There are also some credits and refunds provided by the IRS in certain situations which provide funding to make ...

If you’ve already applied for Employee Retention Credit, it’s natural to have questions and concerns about how your claim is progressing. Here, we’ll take a walk through the step-by-step process so you can gain greater insight into the timeline for receiving your refund, understand why refunds might be delayed and find information on the best ways to contact the IRS ...

Understanding the processes surrounding Employee Retention Credit can be overwhelming. Because it’s such an important program for you and your business, it’s essential that you understand the impact of ERC on your taxes and how to account for your refund amount. Let’s take a look at the most commonly asked questions regarding Employee Retention Credit and its impact on your ...

Introduction  The Employee Retention Credit (ERC) was a provision laid down in the CARES Act through the IRS which intended to allow businesses to recoup some of the funds that they’d paid out in wages to employees throughout the course of the pandemic. The ERC aims to reward businesses for keeping their employees in employment, even if the restrictions and ...

Nearly 70% of small business owners applied for loans under the CARES Act. The $2.2 trillion relief bill provided many options for businesses to minimize the burden of the COVID-19 pandemic. Some of the pandemic relief programs include but are not limited to payroll tax deferrals, employee retention credits, and changes relating to losses of a business. Read the below ...

Part of the COVID-19 relief plan, the CARES Act was passed to provide necessary aid for families and business. This ranged from unemployment aid to paycheck protection funds and programs, up to tax breaks for certain companies.  To better understand the CARES Act of 2022 includes some necessary changes and requirements for many different businesses.  The CARES Act 2022 Eligibility ...