Recommended Links for learning about ERTC

Here is some information on how firms can qualify for eligibility.  There is much more to look at than just the top line revenue results.  Many of the claims we file do not meet the revenue shortfall criteria.

Here is some guidance on ERTC eligibility from the IRS.  Of particular interest is how they answer Question #12 below. An employer will likely find themselves eligible for the ERTC if they have had operational disruptions in their supply chain.  This will be the area for us to explore: N-2021-20 (irs.gov)

• Question 12: If a governmental order causes the suppliers to a business to suspend their operations, is the business considered to have a suspension of operations due to a governmental order?

• Answer 12: An employer may be considered to have a full or partial suspension of operations due to a governmental order if, under the facts and circumstances, the business’s suppliers are unable to make deliveries of critical goods or materials due to a governmental order that causes the supplier to suspend its operations. If the facts and circumstances indicate that the business’s operations are fully or partially suspended as a result of the inability to obtain critical goods or materials from its suppliers because they were required to suspend operations, then the business would be considered an eligible employer for calendar quarters during which its operations are fully or partially suspended and may be eligible to receive the employee retention credit.

Also attached are 3 Forbes articles highlighting how many companies don’t understand that they are likely eligible to take advantage of this government stimulus program. I like them all, but the 2nd one is interesting as it highlights the ten mistakes that employers are making when assessing their eligibility.

1.  The Employee Retention Credit: Small- And Medium-Sized Businesses And Tax Exempts Are Missing Out On Billions (forbes.com)

2. Employee Retention Credit: Top Ten Mistakes Of Business Owners And Their Advisors (forbes.com)

3. Employee Retention Credit — Still The One (The Latest Update) (forbes.com)

 Feel free to give me a call or to propose a time to further discuss.