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After the global pandemic, businesses encountered unprecedented challenges, grappling to maintain their operations. During these tumultuous times, the Employee Retention Credit (ERC) emerged as a crucial financial lifeline for employers seeking relief. Yet, comprehending and effectively utilizing the ERC can resemble a rollercoaster journey fraught with uncertainties and intricacies. In this all-encompassing guide, we will
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In a world where scams and fraudulent schemes abound, it’s natural to approach offers of monetary assistance with skepticism. However, not every financial lifeline is a hoax, and the Employee Retention Credit (ERC) is a prime example. Instituted by the United States government through the CARES Act in response to the COVID-19 pandemic, the ERC
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Navigating the complexities of IRS refunds can be a trying experience, especially when dealing with the Employee Retention Credit (ERC). ERC refund delays and the IRS’s ongoing backlog of tax returns have left many taxpayers anxious and frustrated. This guide will delve into the challenges ERC refund delays pose, provide insights into checking your IRS
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On March 7, 2023, the IRS sounded a renewed cautionary note for employers contemplating Employee Retention Credit (ERC) claims. The ERC, introduced as part of the Coronavirus Aid, Relief, and Economic Security Act in 2020, evolved with enhancements and extensions before being retroactively terminated by the Infrastructure Investment and Jobs Act in 2021. This article
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Navigating the intricate world of taxes can be intimidating for any business owner. The Employee Retention Credit (ERC), in particular, presents a unique set of challenges, and the stakes are high. Concerns about audits and potential fund return requirements from the Internal Revenue Service (IRS) can keep entrepreneurs awake at night. However, failing to explore
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The COVID-19 pandemic unleashed a wave of unprecedented challenges upon businesses worldwide. In response to these tumultuous times, the federal government swiftly introduced the Employee Retention Credit (ERC) as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020. This credit was designed to reward businesses for retaining their employees during the
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Imagine receiving a refund of up to $26,000 per employee by gathering information and filing a tax form. It’s an opportunity that any employer would eagerly seize. The Employee Retention Tax Credit (ERC), also known as the Employee Retention Credit, has provided much-needed financial relief to businesses grappling with the challenges imposed by the COVID-19
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The Employee Retention Credit (ERC) has been a vital lifeline for countless businesses grappling with the unprecedented challenges posed by the COVID-19 pandemic. Whether you’ve already received your ERC refund or are exploring your eligibility, it’s essential to understand that the ERC filing process only concludes with the arrival of the refund check. This article
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The Employee Retention Credit (ERC) has emerged as a lifeline for businesses impacted by the COVID-19 pandemic. This tax credit offers hope, allowing eligible businesses to recoup a significant portion of their payroll expenses. In this comprehensive guide, we will explore the intricacies of the ERC, including its eligibility criteria, tax implications, and how it
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The business landscape has seen unprecedented challenges in recent years due to the COVID-19 pandemic. To provide financial support to affected businesses, the U.S. government introduced the Employee Retention Credit (ERC) as part of the CARES Act in March 2020. This tax credit has been a lifeline for many enterprises, helping them maintain their workforce
Solutions by Mike Miller, CPA 