Yes, You Can Still Apply. Read This Article From Forbes.
Are you a small business owner grappling with the uncertainty surrounding the Employee Retention Credit (ERC)? The recent headlines may have left you feeling unsure about whether it's still worth applying for this valuable tax credit. We want to shed light on this topic by drawing your attention to an insightful article by Brock Blake, CEO of Lendio, and a Forbes Magazine contributor. In his recent piece, "Yes, You Can Still Apply For The Employee Retention Credit," Blake discusses the latest developments surrounding the ERC.
The IRS recently placed a temporary halt on processing new ERC claims to combat fraud and ensure legitimate applicants have a fair chance at this credit. While this has led to longer processing times and increased scrutiny, it's essential to know that the ERC is still available for eligible businesses. Brock Blake's article breaks down what this IRS moratorium means for small businesses, offering clarity on how to navigate the situation effectively.
If you're considering applying for the ERC, it's crucial to partner with a knowledgeable tax professional who can guide you through the complexities of this tax law.
Blake outlines key "green flags" to look for when selecting a professional to assist with your filing, ensuring you receive the support you need. These are all standards that we uphold here at Boston Growth Partners:
The professional works with you to compile extensive documentation demonstrating your eligibility for the tax credit for each quarter you are applying.
The professional performs government order research on your behalf and works with you to identify how those orders may have affected your business.
The professional does not charge you upfront to see if you qualify.
The professional has a history and a positive reputation in assisting with tax credits.
In summary, despite the recent headlines, the Employee Retention Credit remains a valuable opportunity for small businesses to receive financial relief. We encourage you to read Brock Blake's Forbes article to gain a better understanding of the ERC's current status and how it can benefit your business. Stay informed, stay proactive, and make the most of the opportunities available to you.
