How do you apply for ERC? 

 November 22, 2023

By  Jace W Campbell, CPA

How do you apply for ERC

In the uncertain times of this pandemic, businesses are seeking out every possible lifeline… And one such lifeline is the Employee Retention Credit (ERC), a refundable tax credit under the Coronavirus Aid, Relief, and Economic Security (CARES) Act…

But what exactly is ERC?… And more importantly, how do you apply for it?

What is the ERC?

The ERC was designed to encourage businesses to keep employees on their payroll… It’s a refundable tax credit against certain employment taxes equal to 50 percent of qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021… Eligible employers can get immediate access to this credit by reducing employment tax deposits they are otherwise required to make.

How Confident Are You In Your ERTC Eligibility?

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

How Do You Apply for ERC?

Applying for the Employee Retention Credit (ERC) can seem daunting at first, but breaking it down into steps can make it a lot more manageable… Let’s start from the beginning…

The first step in applying for ERC is determining your eligibility… The IRS and Treasury Department have laid out specific criteria that businesses must meet to be eligible for the ERC… These criteria are available on IRS.gov or Treasury.gov, and include conditions such as having operations fully or partially suspended due to COVID-19-related governmental orders, or experiencing a significant decline in gross receipts…

If your business meets these criteria, then you’re eligible to apply for the ERC… But remember: It’s crucial to understand these intricacies and how they apply to your unique situation… After all, you’re ultimately responsible for these tax credit claims…

Now, moving on to claiming your credits… This is done when you file your employment tax return… However, if you’ve already filed your return without claiming the credits, don’t worry — You can still claim them by amending your return…

But here’s where things get tricky — There are countless firms out there claiming expertise in handling these claims. Some of them may be self-proclaimed ‘experts’, merely promoters outsourcing your files elsewhere rather than offering expert guidance themselves…

This could lead to fundamental disconnects in operations that do not serve your best interests… So it’s essential that you not only understand the fundamentals of ERTC yourself but also carefully select who assists you with this process…

Almost every type of business and non-profit organization in the US with W-2 employees on their payroll during the pandemic can claim Employee Retention Credits, provided they paid payroll taxes on those employees. But navigating this process efficiently and ethically calls for knowledge about this subject matter.

In conclusion, applying for ERC involves understanding eligibility criteria set forth by government bodies like IRS or Treasury, determining your eligibility based on these criteria, claiming your credits at the right time, and importantly — being cautious about who you trust with this process…

Remember: Whether you’re doing a quick Google search for ERTC or you’re a seasoned CPA looking for efficient ways to serve your clients ethically, knowledge is indeed power when it comes to understanding and leveraging programs like the ERC… So stay informed and make wise decisions!

Looking Beyond Marketing Claims

Remember: all firms aren’t created equal; don’t let deceptive marketing fool you into thinking every promoter is a genuine tax expert… Instead, scrutinize the firm’s credentials, reputation, and track record…

The JWC ERTC Advisory Difference

Consider firms like JWC ERTC Advisory… Unlike many others in the market, we’re not just ERC promoters — we’re genuine experts… We ensure that our operations are aligned with your best interests, providing you with comprehensive and accurate assistance in your ERC application process…

The Crackdown on ERC Promoters

In recent times, the IRS has cracked down on ERC promoters… This is a result of increasing efforts to curb ERTC fraud and protect businesses from misinformation or mishandling of their claims…

This increased scrutiny further underscores the importance of working with a legitimate and experienced firm for your ERC application needs…

Why Choose JWC ERTC Advisory?

Working with us offers numerous benefits… Beyond our expertise and commitment to client interests, we offer an independent eligibility review for taxpayers who have previously filed for ERTC but may have questions or concerns about their eligibility for credits…

We understand that in these times of uncertainty, fear can often be a factor in decision making… We’re here to alleviate those fears and uncertainties by providing clear, concise information and guidance… And ultimately helping you gain from the opportunities available through the Employee Retention Credit.

It’s important to remember: knowledge is power… In a saturated market full of confusing messages and dubious claims, our goal is to provide you with accurate information enabling you to make informed decisions about your business. Trust us — trust JWC ERTC Advisory — for expert advice on navigating through these challenging waters.

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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