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Employee Retention Credit for 2020 

 October 24, 2023

By  Jace W Campbell, CPA

Employee Retention Credit for 2020

The Employee Retention Tax Credit. also known as ERTC, is a refundable tax credit created with businesses in mind. Specifically, those that opted to retain their employees amidst times of economic difficulty… A direct response to the challenges many businesses faced during the COVID-19 pandemic.

This program has its complexities and details, enough to fill dozens of pages. But we’ll strive to deliver a comprehensive yet concise explanation. After all, our goal here is not to bore you with tedious text but instead provide clear insight into what the ERTC entails

Qualifying for the ERTC

The Employee Retention Tax Credit (ERTC), a lifeline to many businesses during the pandemic, might seem intimidating with its rules and stipulations. But don’t let the complexities deter you… After all, the end goal is a potentially significant tax credit that can bolster your business’ finances.

Now, how does one qualify for this credit? The first step involves confirming eligibility. This usually means consulting with financial and legal experts to fully understand the ERTC program’s intricacies and determining whether it applies to your specific situation. These consultations are an essential part of avoiding unnecessary efforts and ensuring you don’t get lost in the sea of tax jargon…

This brings us to step two – documentation collection. Once your eligibility is confirmed, it’s time to gather all necessary paperwork for ERTC calculations. This step occurs after ensuring that you legitimately qualify, meaning no confidential information is unnecessarily exposed.

These processes can sometimes feel like navigating a bustling metropolis… Full of noise, confusion and convoluted paths. However, there’s a clear route through this urban maze – The Direct Check Expressway. A metaphorical path less cluttered… It symbolizes efficiency and trustworthiness in handling your ERTC claim.

Cutting through red tape and bypassing traditional lockboxes, this expressway is all about speed and directness… It represents a promise of expedited claims processing and delivery straight to your door.

So while it might seem daunting initially. Remember that just like any bustling cityscape, once you know your way around – everything becomes much more manageable…

Let me stress this again… You are ultimately responsible for these tax credit claims… Don’t let any so-called ERTC “expert” convince you otherwise…

Now that we’ve covered how one qualifies for the ERTC, we’ll explore some common misconceptions or deceitful tactics firms might use to lure you in… It’s essential to stay informed and vigilant. After all, knowledge is power…

Addressing Misinformation Around ERTC

In this vast landscape of information and misinformation, it’s easy for business owners to fall prey to lies and deceptions from firms looking to take advantage of your situation… They may try to entice you into signing up for services without fully understanding what you’re getting into.

But remember… ultimately you are responsible for these tax credit claims. Don’t let any so-called ERTC “expert” convince you otherwise…

Why JWC ERTC Advisory CPA?

While there are numerous ERC firms out there, JWC ERTC Advisory stands out from the crowd… Not only because of our extensive knowledge on the subject but also due to our ethical approach when serving our clients.

JWC ERTC Advisory offers an independent eligibility review for taxpayers who have previously filed for ERTC but are skeptical about their eligibility… This way, you can be sure about whether or not pursuing these credits would be beneficial…

The Crackdown on ERC Promoters

Recently, the IRS has been cracking down on ERC promoters in an effort to curb ERTC fraud… A necessary measure to ensure the integrity of the program and protect businesses from predatory practices.

The ever-changing landscape around the ERTC can undoubtedly stir feelings of fear and uncertainty. However, there’s much to gain when working with a reputable firm like JWC ERTC Advisory.

Conclusion

Navigating tax credit claims can be daunting… But with accurate information, trusted guidance, and a touch of diligence, it’s certainly manageable. Remember that you’re not alone in this journey. Trusted advisors like JWC ERTC Advisory are here to help…In conclusion, as you delve deeper into your research about ERTC, remember to remain vigilant… And always seek professional advice before making any decisions. This is not just about getting a refundable tax credit… It’s about making informed choices for your business’s future.

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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