ERC Collections Agency Scam – Eligible For The Employee Retention Credit Program?

Are you eligible for 50% refundable tax credit? ERC Collections Agency Scam. ERC program under the CARES Act encourages businesses to keep employees on their payroll. Claim up to $26,000 per Employee for the Employee Retention Tax Credit Retroactively until 2024.

 

About The ERC Program
What is the Employee Retention Credit (ERC)? ERC Collections Agency Scam

ERC is a stimulus program developed to assist those companies that were able to maintain their staff members throughout the Covid-19 pandemic.

 

 

Developed by the CARES Act, it is a refundable tax credit– a give, not a loan– that you can claim for your business. ERC collections agency scam. The ERC is available to both little and mid sized companies. It is based on qualified earnings and also medical care paid to workers

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 As much as $26,000 per employee
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Available for 2020  and also the first 3 quarters of 2021
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Qualify with  lowered revenue or COVID event
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No  limitation on funding
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ERC is a refundable tax credit.

Just how much money can you get back? ERC Collections Agency Scam

You can claim approximately $5,000 per staff member for 2020. For 2021, the credit can be up to $7,000 per employee per quarter.

 Just how do you  understand if your business is eligible?
To Qualify, your business must have been  adversely impacted in either of the  complying with  means:
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A  federal government authority  needed partial or  complete  closure of your business during 2020 or 2021. ERC collections agency scam.  This includes your procedures being restricted by business, lack of ability to travel or restrictions of team meetings
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Gross receipt  decrease  requirements is different for 2020 and 2021, but is  determined  versus the  existing quarter as compared to 2019 pre-COVID amounts
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A business can be eligible for one quarter and not  one more
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Initially, under the CARES Act of 2020,  organizations were not able to  get the ERC if they had  currently  gotten a Paycheck Protection Program (PPP) loan.  ERC collections agency scam.  With brand-new regulations in 2021, employers are currently eligible for both programs. The ERC, however, can not apply to the exact same incomes as the ones for PPP.

Why  United States?
The ERC underwent  numerous  modifications and has  numerous  technological details,  consisting of  exactly how to  figure out qualified wages, which  workers are  qualified,  as well as more. ERC collections agency scam.  Your business’ specific instance could need even more intensive review and analysis. The program is intricate as well as may leave you with lots of unanswered questions.

 

 

We can help  understand  all of it. ERC collections agency scam.  Our devoted professionals will certainly direct you as well as outline the actions you need to take so you can optimize the insurance claim for your business.

 OBTAIN QUALIFIED.

Our services include:
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 Detailed evaluation regarding your  qualification
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 Detailed  evaluation of your  case
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Guidance on the  asserting  procedure  and also documentation
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 Certain program expertise that a  routine CPA or payroll processor  could not be  skilled in
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 Quick and smooth end-to-end process, from  qualification to claiming  as well as  obtaining  reimbursements.

 Devoted specialists that  will certainly  translate  extremely complex program  policies  as well as will be available to answer your  concerns,  consisting of:

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 Exactly how does the PPP loan  variable into the ERC?
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What are the  distinctions  in between the 2020 and 2021 programs  as well as how does it apply to your business?
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What are  gathering  guidelines for larger, multi-state  companies, and  exactly how do I interpret  numerous states’  exec orders?
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Exactly how do part time, Union, and tipped workers influence the amount of my reimbursements?

 Prepared To Get Started? It’s Simple.

1. We  figure out whether your business  gets approved for the ERC.
2. We  examine your  case  as well as  calculate the  optimum amount you can receive.
3. Our team  overviews you  via the  asserting process, from  starting to  finish, including  appropriate documentation.

DO YOU QUALIFY?
 Respond to a  couple of  straightforward  concerns.

 ROUTINE A CALL.
Frequently Asked Questions (FAQs).

What period does the program cover?
The program started on March 13th, 2020 and upright September 30, 2021, for eligible companies. ERC collections agency scam.
You can  obtain  reimbursements for 2020  as well as 2021 after December 31st of this year, into 2022  and also 2023.  And also  possibly beyond then  also.

We have clients that received refunds just, and also others that, along with reimbursements, also qualified to continue receiving ERC in every payroll they process through December 31, 2021, at regarding 30% of their payroll expense.

We have customers that have obtained reimbursements from $100,000 to $6 million. ERC collections agency scam.
Do we still Qualify if we  currently took the PPP?
Do we still Qualify if we did not incur a 20%  decrease in gross  invoices?
Do we still Qualify if we  stayed open during the pandemic?

The federal government established the Employee Retention Credit (ERC) to provide a refundable  work tax credit to help  services with the  price of  maintaining  team employed.

Eligible organizations that experienced a decline in gross receipts or were closed as a result of federal government order as well as really did not claim the credit when they filed their original return can capitalize by filing adjusted employment tax returns. Services that submit quarterly work tax returns can file Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for RefundPDF, to claim the credit for previous 2020 and 2021 quarters. ERC collections agency scam.

With the exemption of a recoverystartup business, the majority of taxpayers ended up being ineligible to claim the ERC for salaries paid after September 30, 2021. A recoverystartup business can still claim the ERC for salaries paid after June 30, 2021, as well as prior to January 1, 2022.

 

What Is The Employee Retention Credit (ERC), And How Does The Program Work?

When the Covid 19 pandemic began, and also companies were forced to close down their operations, Congress passed programs to supply economic support to companies. One of these programs was the staff member retention credit ( ERC).

The ERC offers qualified employers pay roll tax credit scores for salaries and also medical insurance paid to employees. Nevertheless, when the Infrastructure Investment and also Jobs Act was authorized right into legislation in November 2021, it put an end to the ERC program.

Despite  completion of the program,  companies still have the  possibility to claim ERC for  approximately  3 years retroactively. ERC collections agency scam.  Here is an summary of how the program jobs and also how to claim this credit for your business.

 

What Is The ERC?

 Initially  readily available from March 13, 2020, through December 31, 2020, the ERC is a refundable  pay-roll tax credit  produced as part of the CARAR 0.0% ES Act. ERC collections agency scam.  The function of the ERC was to motivate employers to maintain their employees on pay-roll during the pandemic.

 Certifying  companies  and also  consumers that  obtained a Paycheck Protection Program loan  might claim  as much as 50% of qualified  earnings, including eligible health insurance expenses. The Consolidated Appropriations Act (CAA)  increased the ERC.  Companies that qualified in 2021 can claim a credit of 70% in qualified  incomes.

 

Who Is Eligible For The ERC?

Whether you receive the ERC depends upon the moment period you’re requesting. To be qualified for 2020, you require to have run a business or tax exempt organization that was partly or fully closed down because of Covid-19. ERC collections agency scam.  You likewise require to reveal that you experienced a considerable decline in sales– less than 50% of equivalent gross receipts compared to 2019.

If you’re trying to  get approved for 2021, you  should show that you experienced a decline in gross  invoices by 80% compared to the  exact same time period in 2019. If you weren’t in business in 2019, you can  contrast your gross  invoices to 2020.

The CARES Act does ban independent people from claiming the ERC for their own incomes. ERC collections agency scam.  You additionally can’t claim wages for particular individuals that belong to you, however you can claim the credit for earnings paid to workers.

 

What Are Qualified Wages?

What counts as qualified wages depends on the  dimension of your business  and also  the number of employees you have on staff. There’s no  dimension limit to be eligible for the ERC,  yet  tiny and  big  business are  discriminated.

For 2020, if you had greater than 100 full-time staff members in 2019, you can only claim the salaries of workers you preserved however were not working. If you have less than 100 workers, you can claim everyone, whether they were functioning or not.

For 2021, the threshold was increased to having 500 permanent employees in 2019, giving employers a lot extra leeway regarding who they can claim for the credit. ERC collections agency scam.  Any salaries that are based on FICA taxes Qualify, as well as you can include qualified wellness costs when computing the tax credit.

This income needs to have been paid in between March 13, 2020, as well as September 30, 2021. Nevertheless, recovery start-up services have to claim the credit with completion of 2021.

 

 Just how To Claim The Tax Credit.

 Despite the fact that the program ended in 2021,  organizations still have time to claim the ERC. ERC collections agency scam.  When you file your federal tax returns, you’ll claim this tax credit by filling in Form 941.

Some companies, especially those that received a Paycheck Protection Program loan in 2020, wrongly thought they really did not receive the ERC. ERC collections agency scam.  If you’ve currently submitted your tax returns and currently understand you are eligible for the ERC, you can retroactively apply by filling out the Adjusted Employer’s Quarterly Federal Tax Return (941-X).

 Considering that the tax laws around the ERC  have actually  transformed, it can make determining eligibility  perplexing for  numerous  entrepreneur. It’s  additionally  hard to figure out which  earnings Qualify and which  do not. The process gets even harder if you  possess multiple businesses. ERC collections agency scam.  As well as if you fill in the IRS types inaccurately, this can delay the whole procedure.

ERC collections agency scam.  GovernmentAid, a division of Bottom Line Concepts, aids customers with different kinds of financial alleviation, particularly, the Employee Retention Credit Program.

 

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    ERC Collections Agency Scam