As a business owner, you may have heard about the Employee Retention Tax Credit, also known as the ERTC or ERC. It is a refundable payroll tax credit certain businesses can claim on qualified wages paid to their employees if they kept staff on payroll despite major financial setbacks during the height of the COVID-19 pandemic.
But you also may have heard that the IRS is cracking down on ineligible or fraudulent ERTC claims. This is clearly something you want to avoid, and the good news is, you can work with ERTC specialists to optimize ERTC claims and avoid certain risks involved in applying for this important tax credit.
How Can Businesses Work With ERTC Advisors To Optimize Claims and Minimize Risks?
First of all, ERTC advisors can help you work out whether or not you’re eligible to apply for the ERTC in the first place. Many of the businesses getting audited by the IRS are having their claims denied because they don’t actually qualify to claim the Employee Retention Tax Credit, and tax professionals can help you avoid that risk.
A tax advisor can also help you calculate your eligible wages and help you estimate the amount you could expect in a potential ERTC refund. This is a very clear way to strengthen your claim and could be truly invaluable to a business owner who doesn’t have the time to work out minute details.
Tax professionals can also help you figure out exactly what documentation you need for your claim and precisely what the IRS will be looking for to support it. By working with ERTC advisors who know the ins and outs of the program, you could be saving time by not fighting with the IRS later to prove eligibility.
The best ERTC specialists can help you with optimizing your ERTC claim, keep you updated on any changes made to the program, and work with you if your claim unfortunately gets caught up in an ERTC audit. Working with a trusted tax professional is an excellent option for any business owner, especially those who want to be sure every single step of the Employee Retention Tax Credit process is done correctly.
Working With Dayes Law Firm
At Dayes Law Firm, we would be more than happy to assist you with your ERTC claim and minimize the potential risks involved in applying for the tax credit.
Our firm and our partner firms have already helped hundreds of business owners file for the ERTC – indeed, our team has assisted businesses in filing for over $250 million in claims, and our clients have already received millions in ERTC refunds. We have a clear record of success with ERTC claims and can help you best optimize yours for your business.
In addition, we offer ERTC audit assistance to our clients who need it. We will defend any businesses with an Employee Retention Tax Credit audit or if there is ever a request for an audit in the future. We can’t guarantee to eliminate risk with your claim entirely, but we can minimize it and help you if you do face IRS problems later on.
Please call our firm at (800) 503-2000 to learn more! We offer a free, no-obligation consultation to discuss the needs of your business. Contact us today to get started with your ERTC claim.