While the general qualifications for the ERC program seem simple, the interpretation of each qualification is very complex. Our significant experience allows us to ensure we maximize any qualifications that may be available to your company.
During the 2020 and/or 2021 if your business was effected by a full or partial shut down and you have a single employee you qualify.
Any effect on your businesses overall revenue during the 2020 and/or 2021 period compared to the pre-COVID period of 2019 makes you eligible. The size of the impact has no bearing.
Employee @ Company
Employee @ Company
No. The ERC Credit is tax credit that you are entitled to and is not repayable to the federal government.
Our fee structure is based on your percentage of the credit you receive. The range is 15-30% depending on the complexity of the filing.
There are over 70,000 pages of tax code; it’s impossible to be an expert on all of them. ERC is all we do. It’s like the difference between your family doctor and a neurologist. By concentrating on this one program, we understand the intricacies and nuances involved in determining your eligibility and accurately calculating your refunds.
Yes, The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, modified the ERC credit rules. One of the modifications included allowing a company to have a PPP loan and still take advantage of the ERC credit. However, you can't use the same dollar for dollar funds. We take this into account when processing your ERC credit.
Yes actually. There are two possible qualifications for 2020: revenue reduction, or a "full or partial shutdown of your business due to COVID-19". Specifically the IRS describes this as "A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings." Below are several examples of qualifying events:
Example 1: A restaurant must close or limit its on-site dining. Such as having to close down every other table, due to COVID-19 restrictions.
Example 2: A business that needs to meet with clients in person and has to cancel meetings due to COVID-19 restrictions.
Example 3: A business has to reduce their operating hours because COVID-19 restrictions and cleaning requirements.
Example 4: A business had delayed production timelines caused by supply chain disruptions.
No, again this is not a lending program. All eligible employers will receive the funds and they will not run out. However, the soon the better for the filing.
Since the credit check will may not arrive for 20 weeks minimum according to the IRS filings on theERC we offer two options of payment.
Option 1: You can pay the fee upfront and will receive a discount. With this payment option if no credit is received by the IRS we will refund 100% what you paid via our 100% Money Back Guarantee.
Option 2: Our fee will be paid upon receipt of the credit.
One thing to keep in mind is that the program is based on the payroll taxes paid and not income tax. So this could be common for many business.
Possibly. If the wages of a owner are over 50% they will not qualify. In addition, the W2 wages of any immediate family will not qualify. If it is sub 50% then the owners wages will qualify as well as the immediate family member
If you are a majority owner (over 50%) of your company then your wages will not qualify
Once our process is completed (usually happens in 2 weeks) then as the IRS has communicated to us there is a minimum of a 20 week turnaround of the ERC funds. So conservatively the answer is 22 weeks.
No, since the ERC credit is not considered federal income tax. However, you must reduce any deductible wage expense in the amount of the credit you received. All this being said, be sure to consult your CPA for anything tax related.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed vulputate magna urna praesent non hendrerit et habitasse.
