In the wake of the COVID-19 pandemic, the Employee Retention Credit (ERC) has become a vital source of financial relief for businesses struggling to stay afloat. The ERC is a refundable tax credit that provides businesses with up to $26,000 per employee across 2020 and 2021 combined. Despite the potential benefits of the ERC, thousands of businesses have yet to take advantage of this opportunity.
One reason for this is that many businesses are unaware of the ERC or unsure if they are eligible to receive it. Many businesses have also been told by their accountant or financial advisor that they do not qualify. This is where reputable ERC companies come in. These companies use a strict set of guidelines and conservative protocols to determine the eligibility of a business before helping them file for the ERC. They ensure that their clients are fully informed of the process and requirements for the ERC and work to maximize the credit amount for each client.
However, there are also unscrupulous ERC firms out there that use shady language and draconian measures to get their fees with little concern for their clients. These firms may use complex contracts with hidden fees, require upfront payments before any work is done, and even demand a percentage of the ERC refund. These tactics can result in businesses losing money and potentially facing legal issues.
This is why it is important for businesses to do their research and choose a reputable ERC company like ERT Credit. ERT Credit has a strict code of ethics and has never deviated from its principles regardless of the fees lost from not helping a client file the ERC because the client was ineligible. ERT Credit has helped over 1400 clients file for the ERC, with some clients having previous back taxes wiped out by the ERC, and others able to upgrade machinery and make other investments in their business.
Additionally, ERT Credit has helped clients with incomplete payroll tax filings by filing the appropriate tax forms and contacting the IRS on the clients' behalf to resolve any issues. ERT Credit does this at no extra charge, demonstrating their commitment to helping their clients receive the maximum benefit from the ERC.
In conclusion, the Employee Retention Credit is a vital source of financial relief for businesses struggling due to the COVID-19 pandemic. However, it is important for businesses to choose a reputable ERC company that uses conservative protocols and has a strict code of ethics. Businesses should be cautious of unscrupulous firms that use shady language and other draconian measures to get their fees. By choosing a reputable ERC company like ERT Credit, businesses can ensure they receive the maximum benefit from the ERC without any hidden fees or legal issues.