Employee Retention Credit for Workers 

 October 9, 2023

By  Jace W Campbell, CPA

Employee Retention Credit for Workers

What is the Employee Retention Credit? Well, let’s delve into this topic. The Employee Retention Tax Credit (ERTC) is a refundable tax credit, essentially a lifeline provided to businesses that strive to retain their workforce during times of financial distress. The ERTC came into existence in response to the economic hardships faced by numerous businesses during the unprecedented scenario like the COVID-19 pandemic.

The ERTC can be a complex concept and admittedly, explaining it thoroughly would demand dozens of pages filled with very dry and tedious text. Nevertheless, let me attempt to break it down… Imagine a situation where you’re navigating choppy financial waters; amidst these rough tides, every dollar saved is vital. Here’s where ERTC steps in – by reducing your payroll taxes owed if you meet specific criteria.

Qualifying for the Employee Retention Tax Credit

Now that we’ve established what ERTC is, another pressing question arises. How does one qualify for the ERTC? This isn’t as simple as ticking off boxes on a checklist. Various factors come into play when determining eligibility for this tax credit.

Keep in mind, though. no matter how knowledgeable or persuasive an ERTC expert might seem, you bear ultimate responsibility for these tax credit claims. In fact, some firms use deceptions and false promises to entice clients to sign up. Always approach such promises with healthy skepticism.

Navigating Deceptive Practices

As we tread deeper into the waters of ERTC, it’s crucial we address another issue…What lies and deceptions are firms using to lure clients? Regrettably, not all service providers have your best interests at heart. Some may embellish potential benefits or gloss over eligibility criteria just to secure your business…

This calls for due diligence on your part as well as expert assistance from reliable sources such as JWC ERTC Advisory CPA. As a firm dedicated to helping clients ethically and efficiently navigate the ERTC landscape, we offer an independent eligibility review for taxpayers who have previously filed for ERTC but are uncertain or skeptical about their eligibility.

IRS Crackdown on ERC Promoters

The recent times have seen the Internal Revenue Service (**IRS**) adopting an aggressive stance towards ERC promoters… What sparked this? An alarming surge in ERTC fraud cases. These unscrupulous firms are leveraging misinformation and dubious claims about ERTC to lure businesses. Despite their lofty promises of risk-free money, remember…the IRS has been unequivocal – the taxpayer always bears responsibility for their own tax filings.

As a registered CPA Firm with the State Board of Accountancy in Texas, it’s my duty to warn you about these fraudulent practices plaguing our industry. In the next few moments, I’ll guide you through some critical information about ERTC that should significantly influence your decisions when claiming these credits. We will explore what ERTC is, how it came into existence, and how your business might qualify…

Why Choose JWC ERTC Advisory CPA?

In this age of uncertainty, aligning yourself with the right guidance can make all the difference… Choosing JWC ERTC Advisory CPA equips you with access to authentic advice that alleviates fear, clears uncertainty, and paves the way for financial gain.

So whether you’re a business owner trying to understand ERTC or a fellow CPA seeking ways to serve your clients more effectively – remember this: accurate knowledge is power. And wielding this power responsibly is paramount in maximizing benefits from programs like ERTC while minimizing potential pitfalls.

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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