Will IRS Deny ERTC Claim?

Will IRS Deny ERTC Claim?

The Employee Retention Tax Credit (ERTC) began in March 2020. At first, employers did not pay much attention to the program due to limited information and uncertainty. Many taxpayers did not focus on ERTC due to claiming benefits under the Paycheck Protection Program (PPP). The initial ERTC policies prohibited taxpayers from claiming tax credits. However,…

Will ERTC Be Audited?

Will ERTC Be Audited?

The Employee Retention Tax Credit (ERTC) is an optimal solution to overcome employee retention problems. The program helped employers with financial support to allocate credit to employees for qualified wages and health insurance. Employers must adhere to multiple qualification guidelines to claim the tax credit, including employer size, employment suspension status, impact on employee wages…

ERTC Health Insurance Premiums Apply

ERTC Health Insurance Premiums Apply

The global lockdown during the COVID-19 pandemic forced many businesses to shut down. The international business market crashed on multiple levels, with operations coming to a complete stop. Employers laid off many employees to survive on a bare minimum. Some businesses switched to Ecommerce channels to retain their presence, while others opted for remote employment….

ERTC Scams: What Businesses Should Look for When Choosing an ERTC Firm

ERTC Scams: What Businesses Should Look for When Choosing an ERTC Firm

Legislation passed in response to the COVID-19 pandemic has drawn many suspicious actors 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 credit for retaining employees called the Employee Retention Tax Credit, ERTC…

Employee Retention Credit and R&D Credit

Employee Retention Credit and R&D Credit

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 is exploring tools and guidance to move ahead and position their company stably for now and the future. Fortunately, the government has launched several programs to help…

ERTC for Restaurants: Are They Eligible

ERTC for Restaurants: Are They Eligible

The COVID-19 pandemic has been difficult for all of us to get through. However, for restaurant business owners like yourself, the stress was made even worse due to the responsibility of paying salaries to the staff. Thankfully, the US government has established several relief programs specifically for local business owners; nevertheless, these programs’ ever-evolving standards,…

ERTC: Potential Free Money For Churches

ERTC: Potential Free Money For Churches

As a direct consequence of the COVID-19 pandemic, many charitable organizations only survived because they complied with government directives asking them to cease operations or limit services temporarily. And while there is a widespread misconception that tax-exempt organizations are ineligible for a fully refundable government tax credit like ERC—this is certainly not true. Here’s a…

Government Money Available for Churches Through ERTC Program

Government Money Available for Churches Through ERTC Program

Due to the COVID-19 epidemic, some charity organizations only stayed afloat because they agreed with government regulations requiring them to suspend operations or reduce services temporarily. While people may think that tax-exempt organizations are ineligible for a fully refundable government tax credit, such as Employee Retention Credit, this is not true. What is Employee Retention…

Who Qualifies for the Employee Retention Tax Credit?

Who Qualifies for the Employee Retention Tax Credit?

The COVID-19 pandemic wreaked havoc on the world, and we are still reeling from the aftershocks. The economy went down, businesses went bankrupt, and many had to shut their operations to survive. This meant hundreds of unemployed individuals looking for work. To prevent this disaster from becoming worse, the US government introduced the Coronavirus Aid,…