We have news that demands your immediate attention, as it could impact your business’s financial landscape – a proposed change in the Employee Retention Credit (ERC) filing deadline.
In light of the persistent confusion surrounding ERC eligibility, associated risks, and tax considerations, Congress is contemplating a groundbreaking proposal that could advance the ERC filing deadline to as early as January 31!
Under this proposal, the deadline for filing all claims for the ERC about eligible wages paid during 2020 and 2021 may be shortened to January 31, 2024. While the change is not yet law, it is imperative for any business contemplating a valid ERC claim to operate on the assumption that the filing deadline will indeed be January 31, 2024.
Take Action Now for Your Business!
Taking immediate action is crucial if your business qualifies for the ERC and you have not yet filed a claim. Filing this month is paramount, ensuring you do not miss out on potential financial benefits.
We strongly recommend booking a tax assessment with our expert team to navigate these changes effectively and safeguard your business’s financial interests.