WHAT? No More ERCs? HOW CAN THEY DO THAT!!??

With all the recent advertising, promoting, and pushing of ERCs (Employee Retention Tax Credits) almost everyone has likely heard of them. Many have already gotten the credits and we have successfully processed many millions of dollars of them for our clients.

In fact, we had been processing ERCs for three years before Covid. Most don’t realize that ERCs first started as Disaster ERCs in 2017 (for helping businesses through hurricanes, floods, wildfires, and the like). And we were processing Disaster ERCs when they first came out back then. Then when Covid came along, Congress obviously decided that the entire country was a disaster area which led us to the Covid ERCs.

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But as the 2,000% increase on Google of clients searching for how to take the ERC Tax Credit shows, many have still not had a chance to benefit from the up to $26k in “new money” and they are desperate for cash flow.

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What Happened?

The IRS commissioner paused the processing of new ERC claims to protect taxpayers from?“unqualified predatory companies”?that have no business in the tax space. ?

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How Do We Feel About This??

The negative:?Of course, we're bummed that they are pausing processing new claims right now. That means a delay in our clients receiving money. Because we're on the front lines, we know just how impactful and life-sustaining this money is to businesses. This is devastating to those businesses that depend on this money.

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The positive: It's well overdue to take out the trash. We've been offering tax incentives for 23 years with integrity while building lifelong partnerships with our clients. The many fly-by-nighters who knew how to put up a website and decided to get on the ERC “gravy train”, but knew Zip about providing quality tax credits to companies have now been shut down. The IRS was smart to put such a long pause on it because it's short enough that clients can wait a bit for the credits they are still owed them but long enough that those shady companies performing illegally and unethically cannot sustain. So, ... bummer that it had to happen this way. But good riddance to the flakes. Get out of our space and leave it to the professionals!?

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What should business owners do?

In the words of the IRS:

"In the meantime, businesses should seek out a?trusted tax professional?who actually understands the complex ERC rules, not a promoter or marketer hustling....."

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That's us! That's our system! We've been doing this for 23 years and have an entire Tax Management System. ? Businesses should do what our clients have always been doing. Stick to the professionals.?

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Are we still taking signups?

Of course.? For two reasons:

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#1: ERC will reopen, and when it does, we will have clients ready for submission so they can receive the money they are entitled to.? We expect an increase in signups in the coming months because the government has shown they can and will take this away without notice.? So ... you better get your submission all set up and ready to upload when the doors open.? Or you could be left without. ?

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#2: ERC is only a small fraction of our offering.? We've been helping our clients get money for 23 years, and ERC has only been here a few of that.? And in the IRS's statement, they talked about increased demand.... that's not just an increase in ERC demand. What that really shows is the desperate need businesses have for cash flow.? And we're here to help.

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Ron Jarvis

Profit Enhancement Advisor

We use our money to find ways to make your company more profitable.?

Our proprietary?Tax Management System (TMS)?will help you access seldom-used tax credits Including both Disaster and Covid ERCs.

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