Why don’t all
Breaking:
Congress agrees to sunset ERC after January, 31
A tentative bipartisan agreement to end the Employee Retention Credit early has been reached. With the incentive set to expire sooner than expected, businesses shouldn’t miss the only opportunity to claim up to six figures in refunds.
If you’ve experienced any of these disruptions, you need to speak with one of our experts today:
- Full or partial government-mandated shutdowns;
- Capacity limitations;
- Supply chain issues;
- Shift or decrease in operating hours; and
- Decrease in revenue.
You don’t qualify just because the pandemic impacted your business. Your industry, state, and circumstances determine whether you qualify for this credit and for how much.
You don’t qualify just because the pandemic impacted your business. Your industry, state, and circumstances determine whether you qualify for this credit and for how much.
You may not qualify for the entire $26,000 per employee, but you should still consider this incentive.
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What is the
Employee Retention Credit?
The Employee Retention Tax Credit (ERC) is a refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic. Unfortunately, many business owners are receiving bad advice on how they qualify. The ERC is still the most powerful incentive available but it must be appropriately documented and calculated. To ensure you are asking the right questions while choosing a provider, it is critical to understand the most common misunderstandings surrounding this credit.
5 ERC Misunderstandings
To help you cut through the noise, we’re debunking the most common misunderstandings currently circulating in the ERC world. You should know that:
- Not every business qualifies for ERC
- You likely can't claim $26k for every employee
- Not every COVID impact qualifies a business
- Not every government guideline qualifies a business
- Claiming PPP affects how much ERC can be claimed
Our Process
At alliantgroup, there is a comprehensive study process, which includes
1.
A risk-free, no-cost assessment
2.
Cataloging applicable mandates
3.
Documentation of more than nominal impact
4.
Calculation of credit and accounting for other relief and incentives claimed.
We actively work with business owners in every industry to help them claim this lucrative tax break, but not every business qualifies and we have rejected 1/3 of the claims we’ve reviewed because they fall short of IRS standards. Our team includes industry experts and former IRS commissioners bring insights that allow us to better assess if you qualify for this credit.
Watch Video
How It Works
Watch our video to understand more about how alliantgroup has helped businesses claim the ERC.
Tax Savings Examples
Hundreds of Employers from a Variety of industries Have Benefited from alliantgroup's ERC Services.
Manufacturing
ANNUAL REVENUE:
$23 Million
TOTAL CREDITS EARNED:
$982,000
Q1 | 2021 ERC Qualifications:
- Supply chain issues
- Reduction in capacity due to social distancing
- Partial shutdown of operations
Construction
ANNUAL REVENUE:
$92.7 Million
TOTAL CREDITS EARNED:
$2.5 Million
Q2 & Q3 | 2021 ERC Qualifications:
- ERC Qualifications Experienced severe supply chain issues
- Faced revenue loss as large clients canceled their accounts.
Dental Laboratory
ANNUAL REVENUE:
$7 Million
TOTAL CREDITS EARNED:
$230,000
Q1, Q2 & Q3 | 2021 ERC Qualifications:
- Drop in revenue
- Impacted by social distancing
- Unable to fully staff lab due to spatial restrictions
Downloadable Resource
Top 5 ERC Mistakes to Avoid
Download this whitepaper to learn about:
- If you were affected by COVID you are qualified for ERC
- Any government guideline qualifies you for ERC
- Get up to $26,000 per employee
By
Dean Zerbe
Former Senior Counsel to the
U.S. Senate Finance Committee
National Managing Director - alliantgroup
