The Employee Retention Credit (ERC) is a hot topic among eligible employers but beware of false promises and fraudulent tax forms that can lead to serious civil and criminal penalties.
As the IRS opens the 2023 Dirty Dozen list with a warning about ERC claims and increased scrutiny, it’s important to stay vigilant and protect yourself from abusive claims for a refund.
Here’s what you need to know to claim the ERC properly:
✔️ Eligible taxpayers can claim the ERC on an original or amended employment tax return for qualified wages paid between March 13, 2020, and December 31, 2021.
✔️ To be eligible, employers must have sustained a full or partial suspension of operations due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings because of COVID-19 during 2020 or the first three quarters of 2021, experienced a significant decline in gross receipts during 2020 or a decline in gross receipts during the first three quarters of 2021, or qualified as a recovery startup business for the third or fourth quarters of 2021.
Unfortunately, some third-party promoters of the ERC don’t accurately explain eligibility and computation of the credit and may make broad arguments suggesting that all employers are eligible without evaluating individual circumstances.
In addition, some of these advertisements exist solely to collect the taxpayer’s personally identifiable information in exchange for false promises. Don’t fall victim to these scams! Protect yourself and properly claim the ERC if you’re eligible.
🛡️💰📞Book your free ERC assessment here with our ERC specialist, who can help determine if you qualify for the credit and assist you.🛡️💰📞
Stay safe and secure from abusive claims for a refund.
Properly claim the ERC if you’re eligible, and don’t hesitate to seek help from qualified professionals.