Hey ,
The Employee Retention Credit (ERC) is a tax incentive established by the government to help companies facing financial struggles due to the
pandemic.
However, the IRS has started
investigating this credit, and some businesses have turned to specialized firms to assist them in claiming it. It is crucial to exercise caution, as improperly claiming the ERC or relying on unreliable providers can result in significant financial consequences.
To avoid any issues,
- It is essential to understand the basic requirements for claiming the ERC
- Consult with a reputable tax pro or CPA.
- Fulfill requirements like the specific periods for eligible wages, partial or full suspension of operations, a decline in gross receipts, and recovery startup business qualifications.
Avoid hiring unscrupulous third parties or “tax pros” who corner you into breaking the law.
When working with third-party providers, be alert for warning signs such as pressure tactics, excessive upfront fees, or a lack of documentation to verify eligibility. Providing evidence to support your claim and
eligibility requirements can help you avoid audits and potential penalties.
If you need any help to claim your ERC, solve any tax issues, or you want to file back taxes, call my office at (202)-618-1297 or click the link below.
