Understanding the Chances of IRS Audits for the Employee Retention Credit

Introduction The Employee Retention Credit (ERC) has been a crucial lifeline for businesses during the COVID-19 pandemic. This tax incentive program, introduced as part of the CARES Act in 2020, has provided financial relief to employers who retained their employees despite economic hardships. However, as with any tax credit, there are questions and concerns about…

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IRS Moratorium on Processing New ERC Filings: Is an Overwhelmed IRS the Real Issue?

In recent times, the IRS’s decision to impose a moratorium on processing new Employee Retention Credit (ERC) filings has raised eyebrows and ignited discussions across the business community. While the official stance cites concerns about potential fraud, some experts argue that the IRS’s action may be more closely linked to a simpler, yet concerning issue:…

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CPAs, the ERC, and the High Stakes of Getting It Wrong: Why You Should Consider a Tax Attorney

The Employee Retention Credit (ERC) has been a cornerstone relief measure for many businesses grappling with the economic impacts of the COVID-19 pandemic. Certified Public Accountants (CPAs) are often the go-to professionals for tax-related advice. Yet, the intricate complexities surrounding the ERC mean that the potential for error is heightened. This article sheds light on…

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The Value of Second Opinions: Why Business Owners Should Seek Guidance Beyond Their CPA’s Initial Assessment of Employee Retention Credits

As a business owner, navigating the complex world of tax incentives and credits is a crucial aspect of optimizing your financial strategy. One such incentive that gained prominence during the COVID-19 pandemic is the Employee Retention Credit (ERC). The ERC was designed to provide financial relief to businesses affected by the pandemic and encourage them…

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Decoding the Employee Retention Credit: Unraveling Misinformation Spread by Some CPAs

The Employee Retention Credit (ERC) has emerged as a vital lifeline for businesses struggling to navigate the economic turbulence caused by the COVID-19 pandemic. This tax incentive, designed to encourage employers to retain their workforce during challenging times, has been widely heralded as a means to provide financial relief to businesses and employees alike. However,…

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The Employee Retention Tax Credit: Ultimate Guide

Are you a tax professional looking to navigate the complexities of the Internal Revenue Service (IRS)? The Employee Retention Tax Credit (ERTC) is an essential topic that demands your attention. Understanding this credit can make a significant difference for businesses, especially in today’s challenging economic landscape. As a taxpayer, it is crucial to be aware…

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ERC Credit Filing Deadline: Claim Now!

Did you know that missing the ERC credit filing deadline could cost your business thousands of dollars in payroll taxes? The ERC program, which is determined by the IRS form, is a valuable tax credit that can help offset payroll costs. Every business owner should be aware of this crucial date to ensure they can…

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ERC Filing Group: Streamline Employee Retention Credit

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