IRS shares 5 warning signs that Employee Retention claims may be incorrect. As stated in IR-2024-78, the IRS is currently in the process of reviewing $3 billion in claims and plans to ramp up the sending of disallowance letters and audit notices in the coming months.
You don’t qualify just because the pandemic impacted your firm. Your field, state, and circumstances determine whether you qualify for this credit and how much.
You may not qualify for the entire $26,000 per employee, but you should still consider this incentive if you’ve faced any of the following impacts:
You don’t qualify just because the pandemic impacted your firm. Your field, state, and circumstances determine whether you qualify for this credit and how much.
You may not qualify for the entire $26,000 per employee, but you should still consider this incentive if you’ve faced any of the following impacts:
The Employee Retention Tax Credit (ERC) is a refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic. Unfortunately, many business owners are receiving bad advice on how they qualify. The ERC is still the most powerful incentive available but must be appropriately documented and calculated. It is critical to understand the most common misunderstandings surrounding this credit.
Many American businesses have been slow to evaluate and quick to disqualify themselves for the ERC. Companies can receive substantial refunds for taxes already paid by claiming this incentive, even if their business:
We actively work with business owners in every industry to help them claim this lucrative tax break. Our team includes industry experts and former IRS commissioners bring insights that allow us to better assess if you qualify for this credit.
We are the leading experts in tax credits and incentives. Since 2002, we have helped US businesses grow their operations and stay ahead of the competition. To date, we have delivered billions in refunds to over 27,000 businesses.
Our professionals know your business inside and out and know what qualifies to ensure the most lucrative refund. No other firm offers professionals versed in your industry.
Our former commissioners are the preeminent experts on IRS policy and ensure our practices and procedures align with the service’s expectations. No other firm offers this level
of oversight.
Our former policymakers understand the intent of tax law and why they apply to your business. As part of our team, they advocate for our clients and help them take advantage of federal funds. No other firm understands tax law to this extent.
Contact us to receive more information about the Employee Retention Credit
Contact us to receive more information about the Employee Retention Credit