Deadlines for Claiming the Employee Retention Credit (and It’s Not July 31, 2023)

The deadline for claiming the Employee Retention Credit (ERC) is getting closer. If you are an eligible business or nonprofit organization, you still have time to determine your eligibility and file your claim. That time, however, will run out soon with strict filing deadlines coming up in 2024 and 2025.

2023-11-01T10:08:27-04:00July 20, 2023|Categories: Tax: Business, Tax: Credits & Incentives|Tags: , |

Employee Retention Credit Fraud Remains a Top Risk

The IRS has warned taxpayers about pandemic relief fraud before. Employee retention credit fraud is now so widespread that the IRS added it to its annual list of Dirty Dozen tax scams.

2023-11-01T10:09:41-04:00March 31, 2023|Categories: Tax: Business|Tags: , , |

IRS Makes Statements on CARES Act Employee Retention Tax Credit Risks

Last year, the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.

2023-02-15T14:36:39-05:00February 1, 2023|Categories: Tax: Business, Tax: Exempt Organizations|Tags: , , |

IRS Warns of Employee Retention Credit Fraud

The IRS recently warned employers to beware of advertisements and solicitations that promise tax refunds that seem too good to be true. They promise business owners lucrative tax refunds from the Employee Retention Credit through filing amended payroll tax returns.

2023-11-01T09:29:22-04:00November 7, 2022|Categories: Tax: Business|Tags: , , |

Did You Miss Out on the Employee Retention Tax Credits?

Many employers do not realize they could benefit from the ERC.  As businesses close their books and records for 2021 and begin to work on tax compliance, it is a good opportunity to revisit the ERC to clear up any confusion that may exist.

2022-07-19T15:25:10-04:00December 21, 2021|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , , |

IRS Releases Guidance on Q4 Removal of Employee Retention Credit

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.

House passes infrastructure legislation; sends bill to President Biden

Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.

Recovery Startup Provision: How New Startup Businesses Can Possibly Claim the ERTC

Businesses that started during the pandemic have a new opportunity to claim the Employee Retention Tax Credit for the 3rd and 4th quarters in 2021. There are minimal eligibility requirements to net up to $100,000 in tax credits for the year. Act now to include the credit on your 2021 3rd quarter payroll tax return.

2023-11-01T10:13:26-04:00September 22, 2021|Categories: Small Business, Tax: Business|Tags: , |

IRS Issues Employee Retention Credit Gross Receipt Exclusion Procedure

Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.

IRS enhances employee retention credit guidance for open questions

Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.

Go to Top

As Internet Explorer will discontinue browser security updates by August of 2021, this site is best viewed using Google Chrome, Safari or Microsoft Edge.

Click to Continue