Many business owners are under the mistaken impression that they had to have had a reduction in revenue in 2019/2020 or had some major business impact to qualify for ERC funds. Not true. There are about a dozen other qualifiers that make almost EVERY business eligible for stimulus funds even if the business impact is only nominal. For example if you can accurately claim that any one of the following qualifiers describes COVID’s impact on your business you most likely will qualify for the ERC: (see IRS Memo 2021-20 below)

 

• Partial or full shutdown of store or office per government mandates

• Restrictions on number of people in room or building

• Inability to attend normal networking events and functions such as professional conferences

• Disruption to sales force’s ability to function normally

• Supply chain interruptions

• Inability to access equipment

• Limited capacity to operate

• Inability to work with your vendors

• Reduction in services or goods offered to your clients or customers

• Cut down in your hours of operation 

• Shifting hours to increase sanitation of your facility 

• Projects were canceled or delayed to COVID-related disruptions 

• Delayed production timelines caused by supply chain disruptions 

 

Guidance from most lawmakers and professionals familiar with the stimulus act directs businesses to assume they qualify unless they are told by the IRS that they do not. Unfortunately, most payroll providers are very conservative in their assessment and mistakenly advise businesses that they are not eligible. The ERC is a refundable payroll tax credit that can be as high as $5,000 per employee in 2020 and as high as $21,000 per employee in 2021. Employers DO NOT have to pay this back.

 

We have partnered and are working with a tax law firm (the "Tax Firm") that offers to provide the tax work to determine eligibility for the Employee Retention Credit associated with the COVID stimulus bill. The Tax Firm will conduct the evaluation, issue a formal opinion letter and submit the application(s). They back up the opinion letter with an audit guarantee that provides free representation to your corporate clients in the event that they are audited based on a challenge to the Tax Firm's legal opinion (not related to a corporate client providing inaccurate information). The Tax Firm performs these services on a twenty percent (20%) contingency.

 

Please see the additional information below.  This is a very quick, easy and simple process.