Employee Retention Credit Scams: What You Need to Know 

 January 11, 2024

By  Jace W Campbell, CPA

Employee Retention Credit Scams

While the Employee Retention Credit (ERTC) has been a boon for many businesses during these challenging times, it has unfortunately also opened doors for scams… With several unscrupulous firms leveraging this provision to deceive unsuspecting businesses.

The growing instances of ERTC fraud underscore the importance of diligent research and trusted guidance when navigating such complex tax credits.

How Confident Are You In Your ERTC Eligibility?

Watch Our Video Explaining the Fraud We’ve Seen From National ERC Promoters

Understanding the Employee Retention Credit

The ERTC is a refundable tax credit aimed at helping employers who retained their employees during periods of financial hardship caused by the pandemic… It forms a part of the larger CARES Act and is administered by IRS.gov.

Also read: Refundable vs Nonrefundable: What is the difference for ERTC?

However, explaining this program in all its intricacy could span several pages… So, let’s attempt to break it down to its essence.

Qualifying For The ERTC

Qualification for the ERTC primarily revolves around two conditions: experiencing either full or partial suspension of operations due to governmental COVID-19 orders, or significant decline in gross receipts compared to 2019 levels…

Navigating these conditions can be complex and necessitates accurate advice from experienced tax advisors.

Deceptive Practices in Promoting ERTC

An unfortunate side effect of the current economic climate has been a rise in deceptive practices related to ERTC. Unethical firms may use various tactics to entice businesses into signing up with them…

This includes making grandiose promises about potential refunds without adequate investigation into eligibility or misleading clients about their responsibilities when claiming these credits.

Remember, while advisors can guide you through the process, ultimately, you are responsible for these tax credit claims… No matter what any so-called “expert” may suggest otherwise.

Also read: Is ERC a Real Credit or Just a Scam?

Why Choose JWC ERTC Advisory CPA?

With all this complexity surrounding ERTC and increased instances of fraud, it becomes even more essential to engage with a trustworthy advisory firm like JWC ERTC Advisory CPA

Our aim is to provide not only accurate and ethical advice but also ensure that your claims are in full compliance with IRS guidelines.

With the recent IRS crackdown on ERC promoters, having a reliable partner like JWC can alleviate fears and uncertainties surrounding ERTC… Providing you with clarity, confidence, and peace of mind.

For businesses who have previously filed for ERTC but harbor questions or doubts about their eligibility for the credits, we offer an independent eligibility review… This helps confirm your claims while ensuring they adhere to all IRS stipulations.

Wrapping Up

The ERTC program has indeed been a lifeline for many businesses during these trying times. However, falling prey to scams can negate these benefits and potentially lead to legal trouble…

Therefore, understanding the intricacies of this tax credit and partnering with an ethical and experienced advisory service like JWC is crucial.

Ultimately, remember that you bear responsibility for these tax credit claims… But by engaging JWC ERTC Advisory CPA, you equip yourself with a partner who guides you accurately through the process… Helping ensure maximum benefits from this provision while maintaining complete compliance with tax laws.

Jace W Campbell, CPA

Jace founded JWC ERTC Advisory CPA in March 2021 as the nation's first and only public accounting firm focused solely on ERC . . . and nothing else. He has personally signed over 9,000 ERTC claims and is proud to be executing these claims conservatively, and how intended by Congress.

He has a passion for educating clients so they can make the best decision for themselves.  If you read articles and watch videos that Jace produced in 2021, his approach is the same now as it was then.

While other firms pivot their messaging to comply with new IRS guidance, Jace continues preaching the same conservative principles that have helped clients recover hundreds of millions . . . while sleeping easy at night.

related posts:

Can You Claim Employee Retention Credit in 2023?

Can You Claim the Employee Retention Credit in 2022?

Can You Claim Employee Retention Credit in 2024?

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