Employee Retention Tax Credit Application for 2020, 2021, or 2022
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4 Signs That You're Eligible:
Most businesses qualify, even if your CPA or "tax professional" suggests you don't.
- The business is based in the United States
- The business was Impacted by Covid
- The business had 500 or less W-2 employees
- The business has not yet claimed the Payroll Tax Rebate
A Few ERTC FAQs
How Long Do Employers Have to file For ERTC?
Even though ERTC benefits ended in 2021, that doesn't mean employers can't apply for them now. In fact, the IRS says it will recognize ERT claims three years after filing the initial Form 941 for whatever quarter you're seeking credits. For example, if you filed taxes in July 2020, you have till July 2023 to submit paperwork for ERTC.
While you have a while to claim your ERTC benefits, please don't use that as an excuse to hold off on seeking compensation. The IRS is notorious for taking a long time filing paperwork, so it's always best to put your claims in ASAP for the highest chance of success.
How Long Will It Take For The IRS To Submit My ERTC?
There's no set date for when the IRS will reward employers with their ERT claims, but you should expect to wait at least nine months to see these credits. It may take a year to redeem your ERTC.
For the fastest results possible, it's always better to work with a professional tax team with experience filing ERTC with the IRS.
Can Self-Employees Or Independent Contractors Apply For ERTC?
ERTC is a payroll tax credit, which means you need W2 employees to qualify. So, if you're self-employed, you cannot claim ERTC.
Do Family Employees Qualify For ERTC?
Employers can only claim ERTC using wages from non-family employees. So, you won't be eligible for credits if you're a 100 percent family-run business.
Where Can Employers Find More Info On ERTC?
If you're still unsure about ERTC, it's best to start with the IRS's official FAQ portal. Here, you'll find dozens of questions related to the latest revisions in ERTC, as well as contact info should you want to give the IRS a call.
However, please bear in mind the IRS isn't known for its speedy recovery time. Also, if you've been waiting for four hours, you'll likely get disconnected from the IRS helpline. For more reliable customer service, we recommend reaching out to ERTC tax professionals like Travis Watkins on the Contact Us page.