No. This is not a loan of any kind. It’s a tax credit that’s refundable. We ask for a refund check for you when we submit your ERC claim.

We calculate our service fee depending on the amount of credit that is recovered. We determine our fee and include it in our free analysis. Our rate is very reasonable considering that we can generally recover 10–20% more than someone who is less familiar with the program. Using the proper team for this process pays for itself, just like a good CPA does.

Yes, of course. The issue is that, unlike what most CPAs do, the ERC credit is claimed on payroll returns rather than business income tax returns. Unless they handle your payroll in-house, the majority of CPAs don’t process this credit as a result. This is another major factor in the underutilization of this credit. Few people are able to process the credit successfully since CPAs often don’t handle it even though they are tax professionals. Surprisingly, we get a lot of our clients through CPAs.

Our extensive payroll expertise has allowed us to concentrate especially on comprehending and utilizing the ERC program. Few people are able to fully utilize this sizable benefit for your company, in our experience, due to its complexity (the ERC tax code is almost 200 pages long) and the time commitment required to comprehend it.

Yes. The ERC credit regulations were modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which was passed on December 27, 2020. One of the changes allowed a business to hold a PPP loan and yet benefit from the ERC credit. The same money amount cannot be used again, though. When processing your ERC credit, we consider this.

Yes. Reduction in revenue or “full or partial shutdown of your business due to COVID-19” are two scenarios that could qualify for 2020. The IRS defines this specifically as “A government authority required the partial or full shutdown of your business during 2020 or 2021. This includes any limitations placed on your business operations, incapacity to travel, or regulations surrounding group gatherings. Here are a few instances of acceptable events:

Example 1: A restaurant must restrict or stop on-site dining. For instance, because of COVID-19 restrictions, we had to shut down every other table.

Example 2: A company that has client meetings that must be canceled because of COVID-19 restrictions.

Example 3: Due to COVID-19 restrictions and requirements, a company must shorten its operating hours.

Example 4: A company’s production schedules were pushed back because of supply chain issues.

Example 5: Due to COVID-19 restrictions, a company that had a planned event must either cancel it or limit the number of attendees.