Is the Employee Retention Tax Credit a Real Thing? 

 October 9, 2023

By  Jace W Campbell, CPA

Is the Employee Retention Tax Credit a Real Thing

Yes, the Employee Retention Credit (ERC) is indeed a real thing. But, what exactly is it? In the simplest terms, it’s a refundable tax credit that aims to aid businesses that have chosen to retain their employees in times of economic hardship. The impetus behind its creation was largely the widespread financial difficulties faced during extraordinary events such as the COVID-19 pandemic.

The intricacies of this program could fill dozens of pages… but I’ll do my best to break it down for you with just enough detail to grasp its core essence. So let’s dive into answering this primary question and explore other relevant aspects surrounding it.

What is the Employee Retention Tax Credit?

This question often surfaces when discussing ERCs. The Employee Retention Tax Credit (ERTC) was designed specifically for businesses that continue to employ their staff amid tough economic conditions. It’s effectively a tax rebate intended to alleviate some of the financial burden faced by these enterprises.

How Does One Qualify for ERTC?

Understanding how one qualifies for the Employee Retention Tax Credit (ERTC) isn’t just a matter of casual interest, it’s an essential aspect of responsible business management… This is especially true because you, as the business owner or manager, are ultimately accountable for these tax credit claims. Don’t be led astray by claims from self-professed “ERTC experts” who may attempt to oversimplify the process.

There are folks out there with varying degrees of ERTC knowledge. Perhaps you’ve done some independent research, or you’re a CPA striving to serve your clients effectively and ethically. Regardless of where you stand on this knowledge spectrum, grasping the specifics about ERTC qualification is crucial.

ERTC is indeed complex; its nuances could fill up several pages… But fear not! Let’s demystify it together and make this journey a tad less daunting.

Also read: IRS Rules for the Employee Retention Credit

Deceptions Used by Firms To Entice Sign-Ups

Some firms may employ various tactics or deceptions to encourage you to sign up for their services… This section will provide insights into some of these methods, so you can make informed decisions about your interactions with these firms.

Navigating through this maze can be daunting and potentially risky without appropriate guidance… That’s where JWC ERTC Advisory CPA comes into play. They offer comprehensive advice on claiming these credits, keeping your interests at heart above all else.

Crackdown on ERC Promoters and IRS Efforts to Curb ERTC Fraud

Recently, there has been a significant increase in IRS scrutiny on ERC promoters… This step is part of an ongoing effort to curb ERTC fraud. Knowing this can help businesses stay alert and avoid falling into potential traps set by fraudulent entities.

Engaging with JWC ERTC Advisory CPA not only gives you access to their vast knowledge and expertise on ERTC but also assures that your claims are ethical and within the boundaries of the law. You can rest easy knowing they adhere to strict professional standards, safeguarding you from potential pitfalls associated with ERC claims.In conclusion, employee retention credit is indeed a real thing, with the power to significantly benefit businesses facing economic challenges… But it’s equally important to navigate this space ethically and lawfully. With JWC ERTC Advisory CPA at your side, you’re one step closer to leveraging these benefits without fear or uncertainty.

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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