5 Reasons to File for ERC Tax Credits with ERC Tax Experts

ERC Tax Experts Resources

March 21, 2023  |  9 min read

With tax season rapidly approaching, many small businesses are looking for ways to minimize tax bills and maximize returns. If COVID-19 closures impacted your small business, you might still have the opportunity to claim Employee Retention Credits from past quarters. But, how do you know if you qualify for these credits and what’s the process for claiming them?

How can Employee Retention Credits save your business thousands?

Small businesses, especially those deemed non-essential, were forced to close during early COVID lockdown measures. Many of the businesses that were allowed to remain open saw a stark decrease in revenue. To incentivize these businesses to keep employees on their payroll, the government created the ERC tax credit to cover up to “50% of up to $10,000 in wages paid by an employer whose business is fully or partially suspended because of COVID-19 or whose gross receipts decline by more than 50%.” In simpler terms, businesses that saw a financial reduction of more than 50% of their gross receipts during COVID, may be entitled to up to $5,000 per financial quarter for each employee kept on payroll during the pandemic.

Can you file for ERC without help?

As a business owner, you can always decide to file your taxes without the help of an accountant or a financial professional. Hiring someone to prepare your tax documents for you will cost money, usually a few hundred dollars. Today, many individuals choose to handle tax preparation themselves or with the help of a tax preparation software program. However, if you’re not well-versed in the nuances of the tax code, you’re more likely to make mistakes that could cost your business more in the long run. There is some evidence that businesses that file tax returns that haven’t been signed off by a tax professional are more likely to be audited by the IRS. Whether this is because individuals who file their own taxes actually make more mistakes or just arouse greater scrutiny because they have more opportunities to fudge financial information purposefully is uncertain.

Why might the IRS audit your business? If a business fails to file any tax paperwork or pay taxes, it may be audited by the IRS. The IRS may also audit a business if they suspect it has understated its taxable income for the year, either due to human error or intentional fraud. Generally, businesses found to have accuracy errors in their tax paperwork can expect to pay a fine of 20% of the amount they underpaid. If the IRS has evidence that a business intentionally committed fraud, the business may face a civil fraud penalty and have to pay a fine of up to 75% of the amount underreported. In rare cases, a civil fraud penalty can result in criminal charges and jail time. Improperly claiming credits like ERC is considered understating a business’ taxable income. Working with tax experts can help businesses avoid audits and penalties.

Why partner with ERC Tax Experts to file for ERC?

Since the Employee Retention Credit is relatively new, even seasoned accountants and tax professionals might not know who qualifies and how to properly claim this credit. This means businesses could end up claiming less than they actually qualify for. While the economy is on the mend after 3 years of upheaval, we still live in uncertain economic times. Therefore, it’s in the best interest of small businesses to save money in any way possible. We call ourselves the Employee Retention Credit Tax Experts for a reason. We pride ourselves on helping businesses like yours correctly claim ERC tax credits. We’ve taken our years of accounting and tax experience and learned everything there is to know about the ERC tax credit program. Our team has created highly efficient systems and processes to help each one of our clients claim the maximum benefits they’re owed.

Our Process is Quick and Easy

If you’re eligible to apply for Employee Retention Credit, we can help you get your money in just five easy steps. First, you’ll fill out a quick 10-question survey. The survey is absolutely free and requires no long-term commitment. Once we’ve received your survey, usually within a few minutes, we’ll call you to give you an initial credit estimate and walk you through the next steps of the process. To formally kick off the process, you’ll sign our engagement letter. Then we’ll provide you with a list of the documents you need. After this, all that’s left for you to do is sit back and wait for your cash to arrive. If you qualify, we can even get you an advanced payment in as little as 7 days.

Our Analytics Tools are Smarter

Business has gone digital, and so has accounting. Today, the best accountants are backed up by cutting-edge technology and analysis tools. When it comes to ERC, we are one step ahead of the game. We’ve brought together the best payroll specialists, CPAs, data analysts, and lawyers to develop a proprietary process to help small businesses get the most out of ERC tax returns. On average, clients who work with us get 40% more money from their ERC than clients who work with other payroll companies or CPAs. If you’ve already filed your 941-X on your own or with the help of your regular payroll or tax professional, let us take another look at it. We can help you refile to maximize your credit and get back additional funds. Whether you’re still trying to recover from the economic downturn or want to grow your business, so you feel more secure in the future, we want to ensure you have access to the most capital possible.

We’re Focused on ERC

Our process is unmatched, and our customers see better results because we are laser-focused on maximizing ERC returns. Most other payroll services or accounting firms offer ERC as a supplementary service, if they even handle it at all. At ERC Tax Experts, helping small businesses navigate ERC qualifications and apply for Employee Retention Credit is what we do. Over the past few years, we’ve taken the time to learn everything there is about the ERC tax return program and how to most effectively and efficiently get small businesses their credits.

If you have an established payroll company or accountant with whom you’ve worked for years and have a great relationship with, we’re not here to replace them. Rather, we offer highly-specialized support for this single claim to ensure you make the most of this government program for small businesses. Our focus on one niche also means you don’t have to worry about us trying to sell you ancillary support or accounting services. Once you have your ERC tax credit money, our job is done.

We Get You Your Cash Quicker

In business, time is money. But if there’s one thing the IRS is known for, it’s certainly not speed. The red tape and bureaucracy make tax season the most dreaded time of the year for many business owners and individuals. If you file for your ERC tax credit on your own or with a traditional payroll specialist, you could find yourself waiting up to six months or more to get your money back. A lot can change for your business in six months. The sooner you have your money in your account, the more confident you can be in your business’s security. We appreciate the need for a quick turnaround time and are here to offer a solution to help your business keep moving forward. We offer expedited access for qualified clients. If you meet the requirements, you may be able to use the money from your return within a week of filing.

Our Customer Support is Unmatched

Business is about making money, but that’s not all it’s about. We’ve chosen to specialize in helping small businesses like yours recover from the economic effects of COVID because you and your business matter to us. We’ll do so much more than just crunch the numbers and file the paperwork. We’ll guide you through the entire process of evaluating your eligibility, compiling the correct documentation, analyzing your claim, and receiving your refund. We’ll also answer any questions you have along the way. You’ll receive a comprehensive, certified report at the end of the process. In the unlikely event of an audit, this report will document all the work that went into filing your claim to protect you from suspicion of inaccuracy or fraud. Since businesses were first able to file for the ERC tax credit in April 2021, we’ve helped dozens of businesses regain the money they need to keep the lights on. We’ve helped our clients claim $37 million in tax credits.

Claim Your Tax Credits with ERC Tax Experts

The pandemic has taken its toll on businesses, but ERC offers your business a chance to get back on its feet. Schedule a free consultation with us today to find out how your business can leverage Employee Retention Credits. 

Begin Qualifying Today

And capitalize on the Employee Retention Credit (ERC) tax credit opportunity.

Estimate Your Tax Credits Now