A news about the IRS halting the processing of new erc application till December. Read about erc specialists response to the news.
LOS ANGELES, CALIFORNIA, UNITED STATES, October 26, 2023 /EINPresswire.com/ — One of the leading ERC firms that help businesses in the United States claim the government’s grant has explained their take on the IRS decision recently about halting new ERC tax credit applications. ERC specialists live up to their name and they are one of the top filing companies that help businesses claim the ERC without worrying about the burdensome application process.
To date, ERC specialists have helped over 50,000 eligible businesses in the United States to claim the government pandemic tax credit for small businesses, not only that they have one of the cheapest ERC fees which is just 15%: other ERC companies are charging about $25% to 30% of the ERC credits that their customers receive from the government. ERC specialists also stopped giving an option for an upfront fee before the client receives their checks; although this option is always given at a discount, now, businesses only pay ERC specialists after they have received the checks from the IRS.
The reason why many small businesses need an ERC company to help them file is because the application procedure is cumbersome and it also takes a strict process which includes providing precise and accurate information. This application process is usually overwhelming due to its complexity and in some cases, CPAs who are not specialized in this might tell business owners that they are not qualified for the employee retention credit. Existing tax companies and new ERC companies decided to take on the laws guiding ERC tax credit application, mastering all the laws and how they apply to individual businesses. Most ERC companies have helped hundreds and some have helped thousands of businesses in the United States to receive the ERC checks just like the ERC specialists. They only specialize in claiming the employee retention credit and nothing more. They have a much-secured system that helps for easy application. This portal is much secure and this is the medium through which they request necessary document uploads and review. They also send messages requesting customers to sign documents regarding the application.
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ERC specialists have a contact system; a phone number and an email address that customers can contact them with to get timely information about their applications. The response is also super fast because online reviews on Google say it all. They also have a system where they can help customers to check their ERC application status quickly. If business owners were to do it alone they will spend up to 5 hours on the phone before they get a response from the IRS. On the ERC specialists portal, they can pull up a business owner application status and present it to them quickly. ERC specialists do a very good job at claiming the ERC tax credit and they have been able to prove it having worked with over 50,000 businesses and still counting.
The IRS stated on its website that it urges eligible businesses to take advantage of the employee retention credit because it is truly a source of capital for many small businesses that had to retain their w2 employees during the pandemic. Businesses that are eligible for the ERC and have claimed it do not have to return the money because it is not a loan. The IRS earlier this year also issued warnings to small businesses not to fall victim to the ERC scams going on online. There are a lot of businesses that are falling victim to various ERC scams. Some individual or a company that is not recognized can just talk to a business owner about the ERC and they may try to get some application fees, some may even tell employers that they are eligible even if it has been proven that they are not eligible. The IRS warns businesses to stay away from such scams. In a bid to also avoid such scams, the IRS has halted the processing of new ERC applications so that they can thoroughly review the old ones. This has kept every ERC company on their toes including ERC specialists who thoroughly vet a company if they are Eligible before filing for the ERC. This is to make them cautious even more as they help businesses file for the ERC tax credit. They have new disclaimers on their websites and they make sure they double check on eligibility. These are some of the perks of working with ERC companies. They make sure they abide by every new change in the ERC industry. The correct interpretation of the “IRS Halt” is that new applications can be sent but the processing will not start until December. The ERC application is in itself time-consuming so businesses that have not claimed the ERC need to start applying so that when the IRS starts processing new applications the businesses that have submitted now will be part of the first badges that will receive their ERC next year.
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