Frequently Asked Questions
*Video explainers included at the bottom
As a CPA or payroll provider, can I recommend your experts to my clients?
Yes. We also have an affiliate and referral program. Contact us to find out more.
Will the ERC funding run out?
The US Treasury issues tax refunds; this is not a loan program. As a result, the money will be given to all qualifying employers.
How can I pay for this?
We provide two payment options: you may pay your charge beforehand at a discount or the whole price can be taken from your return once received. We recognize that your refund check may not come for many months (20 weeks at the very least according to IRS documents). Credit cards can be used to make upfront payments. No matter what, we provide a 100% Money Back Guarantee. Any payments made will be refunded if the IRS does not grant the credit for any reason.
Why did I receive a larger ERC Credit than what I paid in taxes?
Please keep in mind that this program is based on payroll taxes paid, not income taxes. ERC funds that are not used to pay back payroll taxes are seen as a “over deposit” of taxes, and the IRS will be asked to provide a refund check.
Do my salaries or the wages of any family members I employ, as an owner, qualify?
Maybe. Both the W2 salaries of any direct family members of the owner and the wages of owners who have majority ownership, which is defined as more than 50%, are ineligible. If an owner owns less than 50% of the company, their W2 wages as well as the W2 wages given to immediate family members are eligible.
If I work for myself, am I still eligible for the ERC?
No, your salary does not qualify if you own more than 50% of your company.
How soon will I receive my ERC Credit?
The procedure is as follows: you submit us the necessary documents, and we do an analysis at no cost to you. Normally, the entire process takes two to three weeks. If you decide to proceed, you will choose the payment method you choose, and we will file your claim. Refunds are released dependent on the IRS backlog after being filed. The IRS currently requires a minimum turnaround time of 20 weeks for ERC refunds.
The ERC Credit is taxed, right?
For the purposes of federal income tax, the ERC credit is not treated as income; nonetheless, any deductible wage costs must be reduced by the credit’s value. For tax purposes, kindly give your CPA the credit information.
Types of businesses that qualify
Churches, Gyms. Retail shops, Schools, Realties, Restaurants. Supermarkets, Law firms, Barbershops and Salons, Marketing Companies, Charities, Consulting firms, etc.
Does my business qualify even if there wasn't a decline in revenue?
Yes, If you had a change in business operations and answer yes to one of the following: Change in business hours, Partial or full suspension, Reduction in services offered, Reduction in workforce, A disruption in your business (division or department closures), Inability to visit a client’s job site, Suppliers were unable to make deliveries, Additional spacing requirements due to social distancing, Change in job roles/functions, Tasks or work that couldn’t be done from home, Lack of Travel or Lack of Group Meetings
Average Tax Credit (up to 28k per employee)
$200k
Do I have to pay this back?
No, it’s a grant not a loan.
How much will this cost me?
Nothing upfront, you just pay the processing company a small contingency fee once the grant is approved and appears in your bank account. Similar to how personal injury attorneys’ work. Only pay if you get money from your case.
A company already reached out to me about this
ok great, just make sure it’s a reputable company that will be around which is why I recommend our processing team in LA. They have years of experience and are fully staffed with payroll specialists, accountant, retired IRS experts, dedicated support staff and attorneys to ensure proper filings with the IRS
If I already got a PPP or SBA Covid loan, can I still qualify
Yes. Under the Consolidated Appropriations Act, businesses can now qualify for the ERC even if they already received a PPP loan.
What's the minimum number of employees
5 not including yourself up to 500
How long does it take to get my refund?
On average 16-20 weeks but you’ll know within a week if you qualify. Some companies have received refunds within 90 days.
How do I check the status of my refund check?
To check the status of your refund, you can call the IRS directly at (877) 777-4778 once the forms are filed.
What documents do I need?
Payroll data, ownership workbook (will be provided), quarterly payroll tax forms, PPP loan forgiveness applications (if applicable), and quarterly gross receipt reports.
Can I just have my CPA file it?
Most of our partner’s clients are CPAs who need help to file it properly. It must be done right the first time or it can be denied or delayed indefinitely.
What reputable companies have filed already
Legalzoom, Outback, Hilton hotel, GNC, Mcdonalds, Denny’s, Floor and Decor, Rolex, Marriott, LA Lakers, UPS, Chase, Visa, Martha Stewart, WeWork, Taco Bell, Outfront media, Metlife
The tax break was first established in March 2020 in the CARES Act and has been expanded since in the December relief package and the American Rescue Plan Act signed in March. The incentive was put in place to help businesses and tax-exempts retain jobs, keep jobs, but more importantly, grow and expand jobs.
These IRS articles will provide additional background on recent developments with the ERC program:
News coverage
Testimonials
Property Manager $1.2M ERC – https://youtu.be/3y-Udw4YtwM
Video Explainers
ERC Video Explainer – https://youtu.be/Yosa-mb8BcA
ERC in Plain English – https://youtu.be/263Sg7bifdM
ERC for Churches and Non-Profits – https://youtu.be/rKndOeJ73qU
ERC Doc Requirements – https://youtu.be/OgXflap9sTM