Can You Claim the Employee Retention Credit in 2022? 

 January 12, 2024

By  Jace W Campbell, CPA

Claim the Employee Retention Credit in 2022

If you are a business owner grappling with the current economic uncertainties, you may have wondered, “Can you claim the employee retention credit in 2022?” The answer, according to the Internal Revenue Service (IRS), is yes. However, certain qualifications must be met. This article aims to elucidate the complexities of the Employee Retention Tax Credit (ERTC) and assist you in making an informed decision.

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 Tax Credit

The ERTC is a fully refundable tax credit designed to encourage businesses to retain their employees during challenging economic periods. Implemented as a response to the COVID-19 pandemic, the credit offers significant financial relief for eligible businesses. This has not changed in 2022.

Also read: Are All Small Businesses Eligible for ERTC?

Detailed Eligibility Criteria for ERTC in 2022

To claim the Employee Retention Tax Credit (ERTC) in 2022, the IRS stipulates specific eligibility criteria that your business must meet. One of the key qualifications is that your operations must have been either fully or partially suspended by a governmental order related to COVID-19…

This means that if your business was obliged to limit commerce, travel, or group meetings due to a government order, you could qualify. The partial suspension of operations applies even if some aspects of your business remained operational…

Another qualification for the ERTC is a substantial decline in gross receipts. This applies if, during any calendar quarter in 2022, your gross receipts are less than 80% of the gross receipts for the same calendar quarter in 2019…

The IRS provides comprehensive guidelines and resources on its website to help businesses determine whether they meet these requirements. However, the language and regulations can be complex and hard to navigate…

To ensure that you meet all the criteria and maximize your potential credit, consider consulting with professionals like JWC ERTC Advisory CPA. With their extensive knowledge and experience, they can help simplify the process and provide peace of mind that you are claiming your eligible credit accurately and efficiently.

Calculating Your ERTC

If eligible, the amount of your ERTC depends on several factors including the number of employees you have and their wages… The IRS offers comprehensive guidelines on how to accurately calculate your potential credit..

How JWC ERTC Advisory CPA Can Help

While navigating these complex eligibility and calculation processes can be daunting, you don’t have to go it alone. JWC ERTC Advisory CPA offers expert assistance to ensure you maximize your potential credit and maintain compliance with all IRS regulations.

Recent IRS Efforts to Curb ERTC Fraud

It’s important to note that the IRS has recently intensified its efforts to curb ERTC fraud. Businesses that claim the credit without meeting all the qualifications face potential audits and penalties. This is where JWC ERTC Advisory comes in…

Why Choose JWC ERTC Advisory CPA

Choosing JWC ERTC Advisory CPA not only ensures accurate calculation and claim of your ERTC but also provides you with the assurance that you are not at risk of IRS penalties… We stand out among other ERC firms through our commitment to comprehensive, expert service…

In conclusion, while claiming the ERTC in 2022 is possible, it requires careful consideration of the eligibility criteria and calculations involved. Engaging the services of JWC ERTC Advisory CPA could provide the guidance necessary to navigate this process, minimize uncertainty, and maximize financial gain. If you have previously filed for ERTC but have concerns about your eligibility, we also offer an independent eligibility review.

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?

Employee Retention Credit Scams: What You Need to Know

Can You Claim Employee Retention Credit in 2024?

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