Employee Retention Tax Credits Tax Insights

ERC Tax Season Reminders and Updates

ERC Tax Season Reminders and Updates

03/04/2024

ERC Tax Season Reminders and Updates Thought Leadership by Ian Williams, Principal | KBKG As we near tax filing deadlines we are also approaching the first Employee Retention Tax Credit (ERC or ERTC) filing deadline (4/15/2024 for any 2020 ERC claims, 4/15/2025 for any 2021 ERC claims). Many taxpayers are still awaiting the processing of … Read More

KBKG Tax Alert: Proposed Bill Fixes 174 Capitalization and Cuts Off New ERC Claims

KBKG Tax Alert: Proposed Bill Fixes 174 Capitalization and Cuts Off New ERC Claims

01/16/2024

KBKG Tax Alert: House passes proposed bill to Fix 174 Capitalization, Extend 100% bonus depreciation, and Cut Off New ERC Claims, now in Senate consideration. Proposal Aims to Boost Businesses with Immediate Deductions for Domestic Research and Experimental (R&E) Expenditures and Capital Investments on qualified property while reining in the Employee Retention Credit (ERC). The … Read More

Understanding the IRS’ ERC Voluntary Disclosure Program

Understanding the IRS’ ERC Voluntary Disclosure Program

01/03/2024

Understanding the IRS’ ERC Voluntary Disclosure Program Thought Leadership by KBKG The IRS’ introduction of the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP) is a significant development that offers businesses, tax-exempt organizations, and government entities a chance to rectify any ineligible claims for the Employee Retention Credit (ERC). We summarize the key points from the IRS announcement … Read More

Withdrawal of ERC Claims: A Comprehensive Guide for CPAs

Withdrawal of ERC Claims: A Comprehensive Guide for CPAs

11/06/2023

Withdrawal of ERC Claims: A Comprehensive Guide for CPAs Thought Leadership by Ian Williams, Director | KBKG In IRS notice, IR-2023-193, released this week, the IRS has taken a significant step to protect small businesses and organizations from potential scams related to the Employee Retention Tax Credit (ERC) by introducing a novel withdrawal process. This process is designed … Read More

New Questions People Are Asking About ERC

New Questions People Are Asking About ERC

10/23/2023

New Questions People Are Asking About ERC Thought Leadership by KBKG Originally published 5/1/2023, updated 10/10/2023  On September 14th, 2023, the IRS took the significant step of suspending the acceptance of new ERC claims until at least December 31st, 2023. This was in response to mounting concerns about the integrity of the Employee Retention Credit … Read More

KBKG’s ERC Guidance for CPAs and Tax Professionals

KBKG’s ERC Guidance for CPAs and Tax Professionals

10/16/2023

KBKG’s ERC Guidance for CPAs and Tax Professionals Thought Leadership by KBKG Regarding the latest IRS rules and regulations on the Employee Retention Tax Credit program, it’s paramount for Certified Public Accountants (CPAs) and Tax Professionals to stay ahead of the curve. The Internal Revenue Service (IRS) recently introduced a moratorium on processing Employee Retention … Read More

Advice for Taxpayers About the ERC Moratorium

Advice for Taxpayers About the ERC Moratorium

10/11/2023

Advice for Taxpayers About the ERC Moratorium Thought Leadership by Ian Williams, Director | KBKG  The Employee Retention Tax Credit (ERC) is a complex tax credit created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to help businesses keep their employees on the payroll during the COVID-19 pandemic. The ERC is … Read More

Navigating The New Phase of ERC

Navigating The New Phase of ERC

10/02/2023

Navigating the New Phase of Employee Retention Credits (ERC) By Ian Williams, Director | Employee Retention Tax Credits KBKG As Certified Public Accountants (CPAs), staying current with tax regulations is a top priority. In recent times, the Employee Retention Credit (ERC) program has undergone significant changes. The Internal Revenue Service (IRS) Commissioner’s latest signals have … Read More

IRS Pauses New Claims for Employee Retention Credit Program

IRS Pauses New Claims for Employee Retention Credit Program

09/15/2023

IRS Pauses New Claims for Employee Retention Credit Program Thought Leadership from KBKG, Sep 15, 2023 In response to mounting concerns about the integrity of the Employee Retention Credit (ERC) program, the Internal Revenue Service (IRS) has taken the significant step of suspending the acceptance of new ERC claims until at least December 31, 2023. … Read More

Supply Chain Disruption – How to Get Compliant for the ERC

Supply Chain Disruption – How to Get Compliant for the ERC

08/22/2023

Supply Chain Disruption – How to Get Compliant for the ERC Thought Leadership on Employee Retention Credit by Ian Williams, DIRECTOR | KBKG In response to widespread abuse and negligence in the due diligence process related to employee retention credit eligibility (ERC or ERTC) via supply chain disruption, IRS Chief Counsel issued a generic legal advice … Read More

ERC Eligibility for Supply Chain Disruption

ERC Eligibility for Supply Chain Disruption

08/17/2023

ERTC Eligibility for Supply Chain Disruption By Ian Williams, Director, Research & Development Tax Credits and Employee Retention Credits | KBKG The IRS Chief Counsel recently published a Generic Legal Advice Memorandum (GLAM), providing guidance on the eligibility criteria for the Employee Retention Credit (ERC or ERTC) in cases where employers claimed government shutdown qualification via shutdowns of … Read More

The Dangers of Inaccurate Filing Deadlines for the ERC

The Dangers of Inaccurate Filing Deadlines for the ERC

06/23/2023

The Dangers of Inaccurate Filing Deadlines for the ERC Thought Leadership by KBKG Beware of Dubious Tax Advisors Tax season can be stressful for individuals and businesses alike, as the intricacies of tax laws and regulations can often be overwhelming. Unfortunately, unscrupulous tax advisors take advantage of this confusion, employing dubious tactics to market inaccurate … Read More

A Guide to Filing Form 941-X for Employee Retention Credits

A Guide to Filing Form 941-X for Employee Retention Credits

06/14/2023

A Guide to Filing Form 941-X for Employee Retention Credits Thought Leadership by KBKG If you believe your company is eligible to receive the Employee Retention Credit, the good news is that qualifying companies have until April 15, 2024 for the 2020 credit and April 15, 2025 for the 2021 credit, to file. However, to … Read More

How KBKG Helps CPAs With the Employee Retention Credit

How KBKG Helps CPAs With the Employee Retention Credit

05/01/2023

How KBKG Helps CPAs With the Employee Retention Credit Thought Leadership by KBKG Two years after the CARES Act established the Employee Retention Credit, CPAs are still handling ERC (or ERTC) tax credit claims. With this credit’s many complex details, a meticulous approach to ERC filings is essential. KBKG offers industry-leading knowledge and services on … Read More

Top 5 Questions Your Clients Will Ask About the ERC

Top 5 Questions Your Clients Will Ask About the ERC

05/01/2023

Top 5 Questions Your Clients Will Ask About the ERC Thought Leadership by KBKG Many clients may inquire about the employee retention tax credit this season. Naturally, you want to prepare accurate returns while strategically reducing tax liabilities and avoiding audits. The Internal Revenue Service issued a severe warning in March of 2023 about improperly claiming the … Read More

Struggling With ERC Claims? Why Partnering With KBKG Is Your Best Solution

Struggling With ERC Claims? Why Partnering With KBKG Is Your Best Solution

05/01/2023

Struggling With ERC Claims? Why Partnering With KBKG Is Your Best Solution Thought Leadership by KBKG If you belong to the majority of Certified Public Accountants, you are likely to encounter both past and present tax returns during the tax season. It is not uncommon for you to be required to file claims for the … Read More

Everything To Know About ERC Processing Times

Everything To Know About ERC Processing Times

04/24/2023

Everything To Know About ERC Processing Times Thought Leadership by KBKG Navigating the process of using the employee retention credit can be tricky, even once you’ve reached the stage of waiting for a refund. If you’ve been waiting for yours, you may be wondering “How do I check the status of my ERC refund?” Let’s … Read More

Top 5 Questions To Ask a CPA About ERC

Top 5 Questions To Ask a CPA About ERC

04/21/2023

Top 5 Questions To Ask a CPA About ERC Thought Leadership by KBKG How does the employee retention credit work? This is a refundable tax credit for eligible businesses that continued to pay their employees in spite of being shut down or while they experienced a significant decline in gross sales during the COVID-19 pandemic. … Read More

Where is My Employee Retention Credit Refund?

Where is My Employee Retention Credit Refund?

04/21/2023

Where is My Employee Retention Credit Refund? By Ian Williams, Director, Research & Development Tax Credits and Employee Retention Credits | KBKG   The Employee Retention Tax Credit (ERTC or ERC) was introduced by the US government as a response to the economic impact of the COVID-19 pandemic. The ERC is a refundable tax credit that was … Read More

Top 5 Things To Look Out for With the ERC

Top 5 Things To Look Out for With the ERC

04/20/2023

Top 5 Things To Look Out for With the ERC Thought Leadership by KBKG, 4/19/2023 Over two years after the CARES Act introduced the Employee Retention Credit, eligible businesses and nonprofits can still claim it on their tax returns. You may want to claim the ERC tax credit but do not know the applicable guidelines. … Read More

How KBKG Helps Small Businesses With the ERC

How KBKG Helps Small Businesses With the ERC

04/19/2023

How KBKG Helps Small Businesses With the ERC Thought Leadership by KBKG, 4/19/2023 Everything about business taxes is complex. Mistakes can become costly, especially with detailed filings such as the Employee Retention Credit. As a business owner, you must focus on strategic planning and operations. With extensive experience and robust solutions, KBKG helps small companies … Read More

Frequently Asked Questions About Employee Retention Credits

Frequently Asked Questions About Employee Retention Credits

04/18/2023

Frequently asked questions about Employee Retention Credits A comprehensive guide that answers frequently asked questions about the ERC program, including eligibility, requirements, and limitations. Thought Leadership by KBKG Table of Contents: What is the Employee Retention Credit (ERC)? Who is eligible for the Employee Retention Credit? What are qualified wages for the ERC? Can I … Read More

Accounting Today: Risks Associated With the ERC

Accounting Today: Risks Associated With the ERC

04/18/2023

Accounting Today: Risks Associated With the ERC As published in Accounting Today | by Jason C. Melillo, 4/18/2023   This excerpt is from “Risks Associated With the ERC.”  Read the full article now in Accounting Today. […] We have seen many questionable claims by ERC mills, one for example saying, “All businesses impacted by supply … Read More

Your Guide to the ERC Tax Credit for Small Businesses

Your Guide to the ERC Tax Credit for Small Businesses

04/18/2023

Your Guide to the ERC Tax Credit for Small Businesses Thought Leadership by KBKG During the tumultuous years of the pandemic, many companies had to make tough choices, including whether or not to keep all of their staff members. To protect jobs, the federal government created incentives, including the ERC (or ERTC) tax credit, to … Read More

3 Reasons To Work With a CPA

3 Reasons To Work With a CPA

04/18/2023

3 Reasons To Work With a CPA Thought Leadership by KBKG The Employee Retention Credit has benefited many businesses in the last few years. However, the ERC (or ERTC) tax credit has also been a boon for scam artists. The rules for claiming the credit are detailed and complex, leaving room for confusion and ambiguity … Read More

What is the Employee Retention Tax Credit and Why KBKG

What is the Employee Retention Tax Credit and Why KBKG

04/17/2023

What is the Employee Retention Tax Credit? Why KBKG is the Trusted Partner Your Business Needs  Thought Leadership by KBKG The Cares Act Employee Retention Tax Credit has provided relief for many businesses impacted financially by COVID-19, but implementation has been a challenge. There has been an influx of fraudulent ERC “mills” that market themselves … Read More

This Month’s Webinars

This Month’s Webinars

11/01/2022

Looking for CPE credit? We have several sessions available this month. Click the links below to register. If you have questions or need help registering, please email [email protected]. Research & Development Tax Credits 11/1/2022 | 12:00 PM PT | 1 hour | 1 CPE credit This webinar will cover the fundamentals of the Research and … Read More

KBKG to Exhibit, Sponsor, and Speak at the TXCPA Free CPE Expo

KBKG to Exhibit, Sponsor, and Speak at the TXCPA Free CPE Expo

06/14/2022

Our Director of R&D Tax Credits and ERTC, Bill Taylor is speaking at the TXCPA Free Expo on June 23rd. Along with him, our Regional Director, Matthew Geltz, is representing KBKG at the exhibit hall. The TXCPA Free CPE Expo is taking place on June 23rd at the UT Commons Conference Center in Texas. About … Read More

KBKG to Exhibit and Sponsor at PrimeGlobal Partner Leadership Summit

KBKG to Exhibit and Sponsor at PrimeGlobal Partner Leadership Summit

06/14/2022

Our CEO, Gian Pazzia is attending the PrimeGlobal Partner Leadership Summit as a delegate. Along with him, our National Director of Business Development, Gina Lim, is sponsoring the event on behalf of KBKG. The conference is taking place from June 20th to June 22nd at the Fairmont Royal York in Toronto, Canada. About PrimeGlobal Partner … Read More

KBKG to Exhibit and Sponsor at AIA Architecture Conference

KBKG to Exhibit and Sponsor at AIA Architecture Conference

06/14/2022

This year Todd French, Lon O’Connor, Robert VanDeVeire, Brandon Val Verde, and Kyle Ernsberger will be representing KBKG at the AIA Architecture Conference. The conference takes place from June 22nd to June 25th in Chicago, Illinois. About the AIA Architecture Conference The AIA Architecture Conference is the architecture and design event of the year. With … Read More

KBKG to Speak and Exhibit at Tax Alliance Conference

KBKG to Speak and Exhibit at Tax Alliance Conference

06/03/2022

Our Regional Director, Bill Taylor is speaking about Employee Retention Tax Credits & Impact on Research and Development Tax Credits, CCM, and TX Law Changes at the Tax Alliance Conference on June 7th. Joining him is our Regional Director, Matthew Geltz, and he is representing KBKG at the exhibition hall. The Tax Alliance Conference is … Read More

KBKG to Speak at TXCPA Dallas Convergence 2022

KBKG to Speak at TXCPA Dallas Convergence 2022

05/04/2022

Alex Martin, Transfer Pricing Principal, will be speaking at TXCPA Dallas Convergence on Monday, May 16th. He’ll be joined by Bill Taylor, William Long, Matthew Geltz, Mike Cornell, and Emily Kennedy from our Dallas Fort-Worth office. This event is taking place at the Omni Frisco Hotel in Frisco, Texas. About the TXCPA Dallas Convergence TXCPA … Read More

It’s Not Too Late to Claim Employee Retention Tax Credits

It’s Not Too Late to Claim Employee Retention Tax Credits

03/21/2022

By now, most companies have heard of or even claimed Employee Retention Tax Credits (ERTC) or a PPP Loan. Those that have taken advantage of the credit have seen hundreds of thousands to millions of dollars in benefits for retaining employees in 2020 and 2021. For example, one professional services firm with 19 eligible employees … Read More

Updated: 2020 vs. 2021 Employee Retention Credit Comparison Chart

Updated: 2020 vs. 2021 Employee Retention Credit Comparison Chart

03/20/2022

Jason Melillo is a Principal and Local and Wage Based Incentive practice leader at KBKG. His areas of expertise are Local Incentives, Employment Tax Credits which includes Employee Retention Tax Credit, and other employment credits. Old Law New Law Eligible Employers 2020 2021 Eligible employers can receive a refundable payroll tax credit of 50% of … Read More

KBKG Tax Insight: ERTC Terminated for Q4 2021

KBKG Tax Insight: ERTC Terminated for Q4 2021

11/08/2021

The Infrastructure Bill (H.R. 3684) was passed by the House on November 5, 2021, and is expected to be signed into law by President Biden. As part of the Bill, the employee retention credit (with the exception of the recovery startup business credit) is no longer in effect for the fourth quarter of 2021. A … Read More

KBKG Tax Insight: Medical Providers Can Claim ERTC

KBKG Tax Insight: Medical Providers Can Claim ERTC

11/02/2021

Medical providers that perform elective procedures could have an opportunity to claim the Employee Retention Tax Credit (ERTC). While most medical offices had to make a variety of operational changes to adapt to a safe environment during COVID, many of those operational changes do not meet the definition of a government shutdown for ERTC. However, … Read More

California Main Street Small Business Credit II

California Main Street Small Business Credit II

10/21/2021

In Late September 2021 Governor Newsom signed Assembly Bill (AB) 150 establishing the Main Street Small Business Tax Credit II. This bill provides financial relief to qualified small businesses for the economic disruptions in 2020 and 2021, resulting in unprecedented job losses. Taxpayers that qualified for Employee Retention Credit may also qualify for the Main … Read More

PPP Forgiveness and the Interplay with the ERTC

PPP Forgiveness and the Interplay with the ERTC

09/27/2021

Many PPP borrowers have made the mistake of using 100% of their payroll to satisfy PPP forgiveness. Borrowers that also qualify for the Employee Retention Tax Credit should maximize the use of other qualified expenses to satisfy forgiveness related to their PPP Loan to allow the additional payroll to be utilized to maximize the benefits … Read More

Three Tax Saving Strategies for Architecture & Engineering Firms

Three Tax Saving Strategies for Architecture & Engineering Firms

08/30/2021

Architecture and engineering firms that are not claiming R&D Tax Credits, Employee Retention Tax Credits, or 179D are potentially leaving millions of dollars in tax benefits on the table each year. What are these benefits, and what cash flow is being overlooked? R&D Tax Credit Architecture and engineering firms may want to take another look … Read More

[Video] What is the Employee Retention Credit and What Are the Qualifications?

[Video] What is the Employee Retention Credit and What Are the Qualifications?

05/25/2021

The ERTC 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. Our Director, Ian Williams, explains the credit and qualifications. See If You Qualify • Try our benefit estimate calculator » • Join us for … Read More

What You Need to Know About Employee Retention Credits and Government Shutdown Orders

What You Need to Know About Employee Retention Credits and Government Shutdown Orders

05/07/2021

As featured in Accounting Today The Employee Retention Tax Credit has been a welcome lifeline to many struggling businesses and those most significantly impacted by the economic uncertainty around the COVID-19 pandemic. The ERTC, similar to the PPP loan, has helped support small businesses through a refundable credit associated with employee retention. The original ERTC … Read More

Are you missing out on the Employee Retention Tax Credit (ERTC)?

Are you missing out on the Employee Retention Tax Credit (ERTC)?

04/14/2021

If you have not looked into Employee Retention Tax Credits, then you need to reach out to your regional director or contact us right away to see if you qualify. It is worth a quick assessment. We can help you claim the credit and receive cash refunds up to $5,000 per employee in 2020 and … Read More

KBKG Tax Insight: The American Rescue Plan Extends Employee Retention Tax Credits

KBKG Tax Insight: The American Rescue Plan Extends Employee Retention Tax Credits

03/12/2021

We released an update on November 8, 2021. Please see this KBKG Tax Insight for the latest. On Thursday, March 11th, President Biden signed the American Rescue Plan Act (ARPA) into law. The historic $1.9 Trillion stimulus package expands COVID-19 relief for individuals, families, local governments, and businesses. Specifically, the plan includes updates to the … Read More

FAQs – Employee Retention Credit (ERC)

FAQs – Employee Retention Credit (ERC)

03/01/2021

The Employee Retention Credit (ERC or ERTC) 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. The ERC could be a valuable alternative for those who did not qualify for PPP and other emergency loans. … Read More