Employee Retention Credit 2020 vs 2021 

 October 9, 2023

By  Jace W Campbell, CPA

Employee Retention Credit 2020 vs 2021

In an effort to understand the nuanced differences and key changes in the Employee Retention Tax Credit (ERTC) from 2020 to 2021, it’s vital to first establish a solid understanding of what this program entails. The ERTC, in its simplest terms, is a refundable tax credit specifically designed for businesses who retain their employees during challenging financial times… such as those encountered during the COVID-19 pandemic.

Also read: Employee Retention Credit Deadline 2023

It is crucial to keep in mind, however, that the ultimate responsibility for these tax credit claims lies with you. No matter what advice or expertise is offered by so-called ERTC “experts”, your comprehension of the program can significantly influence your decision-making process. Whether you’ve acquired some knowledge through independent research, or you’re a seasoned CPA seeking to provide your clients with ethical and efficient service, it’s always wise to continue learning…

Understanding the Employee Retention Tax Credit (ERTC)

The Employee Retention Tax Credit (ERTC) is a rather complex program, with many intricate details that could span dozens of pages if explained exhaustively. For the sake of brevity and readability, however, we’ll strive to provide an overview of this program that is both comprehensive and digestible.

This exploration of the ERTC is organized in a Q&A format, allowing for easy searching and categorization. It’s designed to serve as an accessible resource for taxpayers as they decide whether it’s worthwhile to engage the services of an advisory firm such as JWC ERTC Advisory CPA. We’ll delve into what qualifies one for the ERTC, as well as debunking some myths perpetuated by firms trying to entice signups.

ERTC Qualifications: The Specifics and Variations

Meeting the qualifications for the Employee Retention Tax Credit (ERTC) involves a careful evaluation of specific criteria, which can vary depending on the year in question. Making this assessment requires more than simply filling out an online form with basic lead generation questions like name, number of employees, industry, and contact information. While other firms may use such forms as a disguised means of generating leads, our focus at JWC ERTC Advisory CPA is to provide you with a concrete answer regarding your qualification for the ERTC.

To achieve this, we’ve developed an innovative tool: the “ERTC Online Qualification Tool“. Unlike other tools that are essentially contact forms in disguise, ours is designed to help you swiftly ascertain whether pursuing the ERTC is worth your time and effort. This tool paves a clear path towards a decisive ‘thumbs up’ or ‘thumbs down’, thereby eliminating unnecessary phone calls, emails, and potentially costly mistakes in your ERTC journey…

Your interaction with our tool may lead to one of two outcomes: firstly, you may realize that you indeed qualify for these credits and are ready to engage with a professional to further evaluate your situation. Alternatively, you may discover that you don’t qualify, thereby saving yourself time, effort, and potential future disputes with the IRS…

A crucial part of the qualification process is defining what constitutes a ‘full or partial suspension of operations’. As an aspect of our commitment to empower business owners like you with reliable knowledge about the ERTC, we’ve created an in-depth 25-minute video consultation – a veritable crash course – designed to help demystify these concepts. The length of the video is testament to our passion for explaining these credits accurately and comprehensively…

Ultimately, engaging with JWC ERTC Advisory CPA not only equips you with the critical need-to-knows about ERTC, but also offers you an efficient and transparent path to ascertain your eligibility for these credits. We invite you to explore what we have to offer and take the next step in your ERTC journey with us…

Debunking ERTC Misconceptions: Navigating the Terrain of Confusion

Like many business-oriented programs, the Employee Retention Tax Credit (ERTC) is shrouded in misconceptions and inaccuracies. Regrettably, some firms exploit these misconceptions to lure unsuspecting business owners into availing their services… It’s a realm fraught with conflicting information and strategic marketing maneuvers, turning the quest for reliable guidance into a veritable labyrinth of uncertainty for small business owners…

Indeed, for many, this informational chaos creates a paralyzing effect. They find themselves caught in a web of confusion, struggling to differentiate genuine ERTC experts well-versed in the program’s intricate rules and regulations from mere salespeople adept at projecting an aura of expertise but lacking the requisite substance…

Despite their best efforts to perform due diligence, business owners often find themselves bogged down in the fog of confusion that plagues the ERTC landscape. Research and validation exercises can prove to be ineffectual against slick marketing pitches masking limited knowledge or experience… And all the while, the clock is ticking, with the window for claiming ERTC rapidly closing…

In this perplexing landscape riddled with misinformation, ambiguity, and potential deceit, it’s no wonder business owners feel trapped and frustrated. The gulf between their desire for stability and the reality of uncertainty intensifies their stress and compounds their sense of urgency…

This complex situation underscores the pressing need for a trustworthy guide – one equipped with real expertise and a deep understanding of the intricacies of ERTC. A guide capable of cutting through the noise to provide clear, accurate information; a beacon shining through the fog of misconceptions; a path towards integrity and transparency amid a world filled with false claims and uncertainties…

By engaging with JWC ERTC Advisory CPA, you gain access to such guidance. Our commitment is to equip you with authentic insights into ERTC, dispelling misconceptions and providing you with the certainty you need to navigate the ERTC terrain with confidence and clarity…

Why Choose JWC ERTC Advisory CPA?

Choosing an advisory firm to assist you with your ERTC claims is an important decision. But with the recent crackdown by the IRS on ERC promoters and increasing efforts to curb ERTC fraud, it’s more crucial than ever to choose a trustworthy and reputable firm like JWC ERTC Advisory CPA

By working with JWC ERTC Advisory CPA, you can navigate the uncertainties and complexities of ERTC claims with confidence. We offer an independent eligibility review for taxpayers who have previously filed for the ERTC but are skeptical about their eligibility for the credits.The benefits of partnering with JWC ERTC Advisory CPA extend beyond merely obtaining accurate information and expert guidance. By leveraging our services, you stand to gain peace of mind in the midst of uncertainty, security against the fear of IRS crackdowns, and potentially significant financial savings through accurately claimed tax credits…

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?

Employee Retention Credit Scams: What You Need to Know

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