Demystifying Form 7202 Instructions for IRS Credits

IRS Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals, is used by self-employed workers to claim tax credits related to COVID-19 leave provided for themselves. However, the complex 7-page form can be intimidating for taxpayers to complete correctly.  This comprehensive guide will walk you step-by-step through Form 7202 instructions. With […]

The Idaho Employee Retention Credit: A Lifeline for Businesses

idaho employee retention credit

The Employee Retention Credit (ERC) has emerged as a vital tool for businesses in Idaho, helping them navigate the financial turmoil caused by the COVID-19 pandemic. This tax credit, part of the federal government’s relief efforts, offers significant financial support to employers who managed to retain their employees during this challenging period. Understanding the Basics […]

Claim Your Recovery Startup Business ERC

recovery startup business erc image

Businesses, regardless of their size, are searching for strategies to keep their employees and encourage their loyalty. One solution for this goal is utilizing the Recovery Startup Business ERC (RSB ERC). This tax credit allows businesses to claim a portion of the wages they paid during the pandemic as an employee retention credit. The credits […]

ERC Supply Chain Disruptions IRS Rules 2023

ERC supply chain disruptions ships

The past couple of years have been very demanding for businesses due to ERC supply chain disruptions of critical goods. This can now be used to your advantage with the federal government IRS Employee Retention Credit program. Supply chain issues are one of the main ways businesses can claim this tax credit and potentially get […]

Claim Your Recovery Startup Business ERC

recovery startup business erc

Businesses, regardless of their size, are searching for strategies to keep their employees and encourage their loyalty. One solution for achieving this goal is to utilize the Recovery Startup Business Employee Retention Credit (RSB ERC). This tax credit allows businesses to claim a portion of the wages they paid during the pandemic as an employee […]

How to Find the Best ERC Company for Your Business

best erc company

Are you looking for an employee retention credit (ERC) company to help you maximize your post-pandemic business credits? Choosing the best ERC company can be tricky, but don’t worry! This article will provide you with some helpful tips on how to make the right choice. We’ll discuss the best practices of top ERC companies, online […]

Employee Retention Credit Deadline for 2023

employee retention credit deadline timeframe

There is a lot of confusion about the rules related to deadlines for Employee Retention Credit deadline claims, and even many professional advisors are a bit puzzled. There still is time left as late as April 15, 2025. ERC Deadline Timeline for Filing If you are seeking employee retention credit for 2021, the only deadline you […]

What is Causing ERC Payment Delays Update for 2023

ERC payment delays

The Internal Revenue Service (IRS) is having trouble handling the influx of refund requests related to employee retention credit. ERC payment delays have become a problem. It could take months for a claim to be processed, and taxpayers have few options for checking on its progress. Good news is that many more IRS agents are being […]

ERC Family Members Eligibility Count Towards the Employee Retention Credit

ERC family members qualify

So are family members eligible for ERC? The short answer is many businesses can claim ERC family members. It primarily comes down to ownership and the percentage the family member holds. ERC Family Members Qualify Confusion This was already a confusing subject but on 4th of August 2022 there was a distressing and confusing notice […]

What is an Essential Business for ERC

ERC essential services qualification

There is a lot of confusion as to what is an essential business for ERC. Being considered an essential business is helpful when figuring out if you qualify. So what is ERC (Employee Retention Credit) and would your company be considered an ERC essential business? ERC Assistance: Helping Small Businesses For businesses, retaining and keeping […]

What Is An ERC Engagement Letter?

ERC Engagement Letter

Are you looking for a way to help your business save money during the COVID-19 pandemic? One option is taking advantage of the Employee Retention Credit (ERC). To do this, you must sign an ERC engagement letter with an ERC professional or Certified Public Accountant (CPA) specializing in ERC. This article will explain what an […]

Understanding the ERC Program: ERC Funding Options

There are ERC funding options available that allow businesses to get their Employee Retention Credit. Take advantage of the refundable tax credit based on payroll costs. Most businesses can get refunds from filing these benefits. This is not a loan but a tax credit based on qualified wages giving businesses tens, if not hundreds of […]

CARES Act Employee Retention Credit for Businesses

CARES Act employee retention credit

The pandemic wreaked havoc on most small business owners. The government initiated the CARES Act Employee Retention Credit, which has been extremely helpful for businesses. The benefits are directly related to a business’s payroll taxes and benefits. It is a great way for them to claim the employee retention and get money back to help […]

Payroll Journals Explained and the Ultimate ERC Accounting Treatment Method for 2023

Payroll Journals Explained and ERC Accounting Treatment

To be able to apply for the Employee Retention Credit, businesses must first figure out if they are eligible for the program and determine the amount of credit they can receive. The payroll journal can be extremely helpful with this process, mainly because it provides the necessary data to perform these calculations accurately. How are […]

How to Fill Out 941X for Employee Retention Credit

How to Fill Out 941X Employee Retention Credit

How to fill out 941X for Employee Retention Credit can be a daunting task. In fact, filling out any tax-related form is complicated, to say the least. Considering the 941X for ERTC incorporates many changes and correcting multiple details, businesses may need that extra help. What is a 941x Form in Relation to Employee Retention […]

What is Form W3: Powerful for Filing ERC in 2023

What is Form W3. Your path to claiming ERC

This article will address what is Form W3 and how it is applicable to the Employee Retention Credit. The W3 is one of the documents a business uses to fill out the Form 941 x to help in determining your eligibility for the ERC. Why is the IRS Form W3 Helpful for ERC When starting […]

Understanding the ERTC Reinstatement Act = Money for Your Business

ERTC Reisntatement Act benefits businesses

With the dawn of a new era and unprecedented times, understanding the ERTC Reinstatement Act has become more important now than ever. Businesses across the nation are scrambling to figure out what this act means for their bottom line – can it really provide them with extra money? Well, let’s dive in and take an […]

ERC Refund Status for Employee Retention Credit 2023

ERC Refund Status Issues

It’s no secret that the IRS struggles to keep up with the millions of tax filings, tax reports, and applications. So has anyone received the ERC refund status? A tremendous backlog for Employee Retention Credit refunds contributes to the ongoing delays. Many businesses have not heard back from the IRS despite filing nine to twelve […]

ERC Childcare Centers, Preschools, and Daycare Facilities ERC Eligibility

ERC Childcare, Daycare, and Preschool Eligibility

ERC childcare centers and other entities assisting children has been very beneficial for the survival of these types of businesses. Many of these facilities have been affected greatly or even forced to shut down. The Employee Retention Credit will bring new life, funding, and a future. Child Care Centers Funding Necessity for Businesses Since they […]

ERC Loan Application Process

ERC Loan is Not a Loan

The ERC loan application process is not necessarily mainly because there isn’t such a thing as an ERC loan. The Employee Retention Credit is a program put out by the government. The purpose is to help small and mid-sized businesses with less than 500 W-2 employees that were able to retain their employees during the […]

ERC Stimulus 2023 and Business Eligibility

Government ERC stimulus 2023

The government is introducing various measures to support businesses as the US economy recovers from the COVID-19 pandemic. One of these measures still active is the ERC stimulus 2023, which is set to continue through 2024 and possibly into 2025. In this article, we will discuss the ERC stimulus funds, how it benefits US businesses, […]

Powerful ERTC Reinstatement Act Updated Law Good for Businesses in 2023

ERTC CARES Act

The ERTC Reinstatement Act is a provision of the CARES Jobs Act passed in 2020 that provides a tax credit for employers that retain employees during the COVID-19 pandemic. The big question is, will the Employee Retention Credit Reinstatement Be Extended? Qualifying small employers are first to receive a CARES Act Employment Retention Tax Credit […]

Employee Retention Credit ERC Stimulus

ERC stimulus for businesses

IRS ERC Stimulus Funds Overview Has your business taken advantage of the largest government ERC stimulus program of all time? The ERC stimulus is a form of payment issued by governments to individuals and households to boost economic activity and stimulate spending during a recession or period of economic hardship. The specific details of the […]

ERC Refund Processing Time – Why so Long

ERC Return Delays From IRS

How long it takes to get an Employee Retention Credit refund status can vary. When the ERTC program first came out the ERC refunds were processed rather quickly, most employers were paid in about 2-4 weeks.  But due to the large number of amended filings the Internal Revenue Service has had a very difficult time […]

Beware of Non-Refundable ERC Tax Credit vs Refundable in 2023

non refundable ERC tax credit

Generally, tax refunds cannot be refunded. The taxpayer will forfeit the credits. Non refundable ERC credits have different attributes than refundable credits due to their non-refundable nature. This tax deduction will decrease your federal income taxes by not requiring you to file returns. Refundable tax credits are helpful to people who want tax relief and […]

ERC Revenue Reduction for Employee Retention Credit 2023

ERC revenue reduction graph

ERC Revenue Reduction in 2023: Best Tool to Claim Tax Credits When the US Congress initially proposed ERC, there were many concerns about its eligibility. Companies had to demonstrate that the pandemic had severely harmed them to be qualified to file an ERC claim. One of the primary requirements for ERC eligibility criteria was that […]

Calculate ERC Gross Receipts Test 2021 and 2020

erc gross receipts test 2023

Gross Receipts Impact on ERTC Qualification Many businesses don’t realize there is still time to claim employee retention credit. However, to qualify, employers must fulfill certain conditions. One of the most complex is proving a significant decline in business via gross receipts from 2020 and 2021 against corresponding quarters from 2019.  This can be challenging […]

ERTC for Hotels and the Hospitality Industry now Available

ERTC for Hotels and Hospitality Industry

ERTC Assistance Still Available for Hotels in 2023 ERTC for hotels and other hospitality industries helped employee retention during the 2020-2021 timeline. Many local hotels received tax credits (per employee) quarterly to keep them on the business’s payroll. The Employee Retention Tax Credit ERTC for hotels was a hope of light in the dark months […]

ERC Health Fitness Centers: Gyms and ERC Group Fitness Facilities Qualify 

ERC Health Fitness Center

The pandemic impacted most businesses dramatically, but the fitness industry was hit harder than most. ERC health fitness centers can help bring money back into your facility. Let’s look at how to take advantage of this amazing government stimulus program. Understanding ERC for Fitness Facilities The Employee Retention Tax Credit (ERTC) program by CARES Act […]

Understanding Employee Retention Credit for Employees 

Employee Retention Credit for employees

ERC Program and How Does it Affect Employees The Employee Retention Credit for employees is a comprehensive program to reward businesses that kept their employees during the global pandemic period. Since the pandemic led to a global lockdown, thousands of businesses worldwide have suffered. Many companies laid off their employees to ensure survival. The CARES […]

ERC Construction Eligibility Available

ERC construction company eligibility

ERC Construction Impacted Industry The recent pandemic left the entire globe in crisis by negatively impacting economies and businesses in nearly all industries. Among the majorly affected industries was the construction industry since all constructions project came to a halt as entire supply chains were disrupted and employees were forced to stay at home. During […]

Breaking the Confusion of the ERTC Application

ERTC Application Process

Why does completing the ERTC application have to be so difficult. Some feel the government wants to offer the program but doesn’t want to make it easy. The truth is there are rules in place to ensure the proper businesses get the money they deserve and there are certain things that need to be determined […]

Qualified Wages for Employee Retention Credit

Determine Qualified Wages for Employee Retention Credit

Qualified wages for Employee Retention Credits are all wages and health insurance benefits paid to an employee during the time period in which the employer is considered an eligible employer. They must have been paid during a time or calendar quarter when a business has been affected by the pandemic. Timeline and Regulatory Changes for […]

IRS Form 941 x Instructions ERC Explained

941-X Instructions Employee Retention Credit Form

Form 941 x is the main tax form used to file an amended return to claim the Employee Retention Credit. 941 x instructions can be somewhat confusing, so let’s look deeper into the process of getting it done. First Steps to ERTC Tax Credits: Form 941 x During the pandemic, in the years 2020 and […]

Recovery Startup Business Employee Retention Credit

Recovery Startup Business ERC Application

There is money on the table for new businesses during the pandemic. Its called recovery startup business erc aka Employee Retention Credit. If you launched a business just before the pandemic or perhaps while it was going on, we’re sorry for the loss you might have faced. Congratulations on reaching a significant milestone during such […]

ERTC Medical Practices Approved for Tax Credit

ERTC Medical Practices Employee Retention Tax Credit

Medical facilities were hit hard during the pandemic. There were many additional restrictions placed on these businesses. The government has initiated a program ERTC medical practices. This allows medical facilities to receive Employment Retention Credit and bring money back into their operations. CARES Act and ERTC Medical Practices Revitalized The CARES Act introduced Employee Retention […]

Can IRS ERC Claim Denied for a Business?

IRS ERC claim denied

Many businesses are applying for the Employee Retention Credit but can the IRS ERC claim be denied? The IRS ERC application might not necessarily be denied, but trying to claim too much could trigger an audit of the amended tax filing. Let’s look a little deeper into this potential situation. Employee Retention Credit Bonus for […]

Scared of IRS ERC Audit: Avoidance in 2023

Will ERTC Be Audited

The Employee Retention Credit (also known as ERC and ERTC) is a life saver for so many businesses giving them an opportunity to claim money back from the government. There are concerns about getting an IRS ERC audit. This is always a possibility, but we feel that if done correctly, there is no greater risk […]

ERTC Health Insurance Costs Apply

ERTC Health Insurance

Many eligible employers are gaining an understanding of the money the Employee Retention Credit brings to them but often leave out ERTC health insurance costs in their qualified wages paid under their group health plan. This is leaving money on the table. Let’s investigate how this forgotten section of the ERTC program can help encourage […]

Harmful ERC Scams: Choosing a Qualified Tax Professional

ERTC Scams

It’s essential to be diligent about trending ERC scams. IRS legislation passed in response to the Employee Retention Credit has drawn many suspicious players eager to get a portion of the tax credit intended for eligible employers and small/medium-sized businesses. The newest are so-called ERTC firms that promise owners massive, backdated tax benefits via tax […]

ERTC and R&D Credit Can You Claim Both

Employee Retention Credit and R&D Credit

ERTC and R&D credit can be claimed in the same year. There are specific guidelines that need to be addressed to make sure this is done properly. The COVID-19 pandemic has set a formidable economic climate in the business world, affecting enterprises of all shapes and sizes. Like yourself, every small and medium-sized business owner […]

ERC for Restaurants: Are They Eligible

ERC for restaurants program available

ERC for restaurants is alive and well in 2023 which is a great thing. This potential infusion of money can help these establishments get back on their feet. The best part is most restaurants are eligible. ERC for Restaurants Overview and Qualification The COVID-19 pandemic has been brutal for all of us to get through. […]

ERC For Churches Eligible for Government Money

ERC For Churches

There are many businesses getting money back from the government through the Employee Retention Credit but what about ERC for churches? Luckily this government program does not exclude churches or non-profit organizations. Let’s see how your church could qualify. Affects of the Pandemic and ERC for Churches to the Rescue As a direct consequence of […]

Receive Federal Money With ERTC for Churches

Government Money Available for Churches Through ERTC Program

The ERTC for Churches government program is alive and well. The good news is that there is still time to take advantage of this amazing federal tax credit program and get your church the money that is available to it. If you had employees during the pandemic then this is for you. ERC for Nonprofits […]

How Long Does it Take to Get ERTC Refund in 2023

How Long Does It Take to Get ERTC Refund

Many more businesses are learning about the Employee Retention Tax Credit and has anyone received ERTC refund. The higher volume of businesses filing has caused delays to receiving refunds from amended tax returns. We will discuss how long does it take to get ERTC Refund. The global economy was shaken by the COVID-19 outbreak. Businesses […]

Who Qualifies for the Employee Retention Tax Credit?

Who Qualifies for the Employee Retention Tax Credit

Businesses have been confused about who qualifies for the Employee Retention Tax Credit. There are several rules in place that can help determine eligibility for businesses. Follow the following rules and your business could recoup a good deal of money. This article will briefly overview who qualifies for the Employee Retention Tax Credit, the application […]

What Is My ERTC Eligibility, and How Do I Qualify?

What Is ERTC Eligibility, and How Do I Qualify

Introduced in 2020, the Employee Retention Tax Credit (ERTC) was part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. This credit was introduced to help businesses keep their employees on payroll during the COVID-19 pandemic, which effectively shut down the world. Congress passed the ERTC to prevent the irreparable financial loss and mass […]

Employee Retention Credit and PPP Program

Employee Retention Credit and PPP

It is possible to get the Employee Retention Credit and PPP money. There are just some rules you have to follow to adhere to the rules and regulations. Here we will discuss what a business needs to look out for when figuring ERC wages and PPP loans. Understanding ERC and PPP Toward the end of […]

How Do I Apply For ERC Tax Credit in 2023?

How Do I Apply For ERC Tax Credit?

The COVID-19 pandemic dramatically altered the corporate world. Many small and medium-sized business workers had to be laid off; as a result, the government launched several programs to help companies survive the current economic storm. One such government initiative is the Employee Retention Tax Credit (ERTC). Even though the ERTC program has several advantages, the […]