Claim Up To
Per Eligible Employee!
The Employee Retention Credit (ERC) was created as part of the CARES Act to encourage businesses to continue paying employees by providing a credit to the eligible employer for wages paid to eligible employees.
Steps for Claiming ERC
- Step 1: Check your eligibility and qualifying wages for ERC and other tax benefits.
- Step 2: Calculate credits and optimize PPP interplay to avoid jeopardizing funds.
- Step 3: Prepare data for Form 941-X and eligibility documentation.
- Step 4: We provide ongoing support and assistance after filing.
IRS Warns Taxpayers of Improper ERC Claims & ERC Mills – But Plenty of Valid Claims Remain
The IRS recently published IR-2022-183, warning employers to be wary of third parties who are advising them to claim the credit when they may not even qualify. As part of this notice, the IRS included several red flags that business owners and CPAs should look out for, many of which we have highlighted in our previous articles featured in Accounting Today.
As ERC mills continue to market these positions aggressively, the IRS pointed concerned CPAs and taxpayers to Form 3949-A, which can be used for whistleblowers to report tax-related illegal activities related to ERC claims. While there is an alarming amount of fraud in this area, we continue to speak with CPAs and their clients who have legitimate cases for claims. Business owners should be wary of Credit companies using mass marketing techniques to contact them. It’s strongly recommended that businesses ask their CPA for a referral to a reputable firm with a proven track record dealing with IRS audits spanning at least 15 years.
We Can Help:
- Determine if the employer qualifies, and if so, for which quarters
- Determine which employee wages qualify
- Calculate credits, including analysis of PPP interplay
- Reconcile actual credits with advance credits requested
- Prepare reconciled data for Form 941-X
- Prepare documentation supporting eligibility
Keep Talent, Save Big.
Work with the trusted experts at KBKG and claim up to $26,000 per employee.
Steps for Claiming ERC
- Check your eligibility and qualifying wages for ERC and other tax benefits.
- Calculate credits and optimize PPP interplay to avoid jeopardizing funds.
- Prepare data for Form 941-X and eligibility documentation.
- We provide ongoing support and assistance after filing.
What are the Steps to Claiming ERTC and How Can KBKG Help?
Here at KBKG, we make the process simple and take the administrative burden off of your plate. Here’s how it works when you partner with us:
Determine your eligibility and qualifying wages per employee, as well as any other tax benefits you may qualify for that have been overlooked.
Calculate the credits, including analysis and optimization of PPP interplay, to ensure PPP funds are not jeopardized.
Prepare data for Form 941-X and documentation supporting your eligibility.
We stay committed to assisting you and answering your questions after filing.
What We Do
Established in 1999, KBKG provides turn-key tax solutions to CPAs and businesses nationwide. By focusing exclusively on value-added tax services that complement your traditional tax and accounting team, we always deliver quantifiable benefits to clients. We help determine which tax programs benefit clients and stay committed to handling each relationship with care and diligence. Our ability to work seamlessly with your team is the reason so many tax professionals and businesses across the nation trust KBKG. We understand that all individuals, companies, and accounting systems are different. We are a client-centric firm with a primary objective of delivering value to those that we serve.
According to the IRS
Be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit. These third parties often charge large upfront fees or a fee that is contingent on the amount of the refund . . .