How Do Employee Retention Credits Work 

 November 3, 2023

By  Jace W Campbell, CPA

How Do Employee Retention Credits Work

The Employee Retention Credit or ERTC is a program introduced by the government to help businesses affected by COVID-19… It’s a refundable tax credit that business owners can claim against certain employment taxes. However, understanding the nitty-gritty of ERTC can be quite overwhelming and tedious…

Qualifying for ERTC: What You Need to Know

To qualify for the ERTC, there are certain criteria your business needs to meet… Firstly, you must have been operating a trade or business during 2020. Furthermore, your operations should have either been fully or partially suspended due to orders from a governmental authority limiting commerce, travel, or group meetings due to COVID-19…

Additionally, you may also qualify if you experienced a significant decline in gross receipts. This refers to a drop of more than 50% in gross receipts during a calendar quarter of 2020 compared with the same quarter in 2019..

How Confident Are You In Your ERTC Eligibility?

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

Unpacking The Lies and Deceptions Surrounding ERTC

In the world of Employee Retention Credits (ERTC), a disturbing trend has emerged… A number of firms are misleading taxpayers with promises of easy money and risk-free claims. They weave intricate tales about the workings of ERTC, painting a picture that aligns perfectly with their own interests but may not necessarily align with yours…

These firms claim expertise in handling ERTC and dangle the lure of “free” money… However, it’s essential to remember that despite what they may lead you to believe, there’s no such thing as a free lunch in the world of tax credits. Every claim comes with its own share of risks, responsibilities, and potential repercussions…

The Internal Revenue Service (IRS) has been abundantly clear on one critical point… The Taxpayer Is Always Responsible For Their Own Tax Filings. This statement is unequivocal. It underscores the gravity of these claims and emphasizes the need for caution when venturing into this terrain…

As a licensed CPA owner of a registered CPA Firm with the State Board of Accountancy in Texas, it’s my duty to highlight these rampant frauds within my industry… I implore you not just to take my word for it but to delve deeper into understanding the intricacies surrounding ERTC.

In an effort to aid this process, allow me to guide you through crucial information regarding Employee Retention Tax Credit… Information that will be critical to your decision-making process when claiming these credits.

We’ll begin by exploring what ERTC is and how it came into existence… Subsequently, we will delve into understanding how your business qualifies for these credits. Along this journey, we will debunk common myths propagated by unscrupulous firms seeking only to exploit taxpayers.

At times like these, it’s crucial to do thorough research from reliable sources such as IRS.gov or Treasury.gov. Alternatively, refer to articles from credible sources like the Wall Street Journal, New York Times, Forbes and Business Insider…

Remember, knowledge is the first line of defense against deception. Arm yourself with it to ensure that you’re not led astray by false promises and fraudulent claims.

Why Choose JWC ERTC Advisory CPA?

When navigating complex tax landscapes such as ERTC, it’s wise to engage experts who have your best interests at heart… That’s where JWC ERTC Advisory CPA comes in. Our firm stands out from others because we value transparency and ethical service…

Unlike other firms, we don’t make lofty promises or employ deceptive tactics. Instead, we offer a comprehensive independent eligibility review for taxpayers who have previously filed for ERTC but have concerns about their eligibility…

Facing The Uncertainties: How JWC ERTC Advisory CPA Can Help

In times of uncertainty, having a reliable partner by your side can make all the difference… At JWC ERTC Advisory CPA, we understand that dealing with tax credits like the ERTC can invoke fear and apprehension. That’s why our primary goal is to provide clear, accurate information that empowers you to make informed decisions.

Also read: What are the Requirements for Claiming ERTC?

The IRS Crackdown on ERC Promoters: An Urgent Update

In recent months, the Internal Revenue Service (IRS) has amplified its efforts to curb ERTC fraud… This enforcement surge includes cracking down on ERC promoters who are exploiting the system and misleading taxpayers. Unfortunately, this unscrupulous behavior is rampant…

As a business owner or taxpayer, you may have been bombarded with aggressive marketing campaigns about the Employee Retention Credit (ERC). These campaigns typically come from ERC promoters who promise “maximum credits,” an “easy application process,” and “no risk.” However, it’s crucial to remember that these too-good-to-be-true offers often hide a more sinister reality…

The IRS has been raising alarms about these deceptive practices since October of last year. However, given the unabated exploitation of the system by fraudulent promoters, the agency has ramped up warnings in recent months. Ominous advisories were issued in March, May, and July – clear indications of escalating concern…

Regulators are growing increasingly frustrated with misleading marketing tactics that obfuscate the true purpose of the ERC… They’ve expressed concerns about false public advertisements, scams, and even potential identity theft associated with these schemes.

Unfortunately for well-intentioned business owners seeking legitimate guidance on ERTC claims, distinguishing between legitimate tax experts and manipulative marketers out for a quick buck can be incredibly challenging… This situation isn’t just frustrating – it’s potentially damaging.

However daunting this might seem though, you should not be deterred from exploring your eligibility for these credits. Despite these challenges and risks posed by fraudulent actors in the market space, there are still reputable resources available…

With expert guidance from JWC ERTC Advisory CPA, you can navigate these turbulent waters confidently. Our team prides itself on ethical practice and transparent advice. We aim to ensure that your claims comply with regulations while maximizing your eligible benefits under this program…

In this difficult time, don’t let the actions of a few unscrupulous individuals deter you from taking advantage of a provision designed to help your business during the pandemic. Remember, an informed and cautious approach, backed by reputable advice, is your best defense against fraud and deception.

Also read: What to Know About ERTC Audits

Final Thoughts: Taking The Next Step with JWC ERTC Advisory CPA

If you’re contemplating taking the next step towards claiming Employee Retention Credits, consider engaging JWC ERTC Advisory CPA… Our team is committed to helping clients navigate complex tax landscapes ethically and efficiently. Don’t let fear or uncertainty stop you from exploring your potential benefits under this program… Let us help you gain peace of mind in these challenging times.

Remember that while knowledge is power, correct interpretation and application of that knowledge is what ultimately matters. And as a taxpayer and business owner, it’s important to remember that you are ultimately responsible for these tax credit claims. Choose wisely.

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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