FAQ

Yes, you are. The recent amendment tot he CARES Act allows you to now receive both a PPP loan and an ERC refund.

After completing the initial questionnaire, it takes our Experts about 1-2 weeks to process your payroll information, reconcile any PPP covered period overlap, and build out the attribution schedules. We will then file your forms with the IRS who will take between 8-12 weeks to process your tax credit and send you a check.

Yes. While the definition of qualified wages is limited for large employers, you can still take advantage of the ERC if you paid employees that were either not working or were working reduced hours. Depending on the size of your company and the amount of qualified wages paid during the quarter, the ERC can still be substantial. For 2020, a large employer is more than 100 employees. For 2021, that threshold was increased to 500 employees.

This is not a lending program – tax refunds are issued by the US Treasury. Therefore, all eligible employers will receive the funds.

You could, because I am sure your Payroll Service does an excellent job of executing the fundamentals of paying your employees, paying your employment taxes and filing your quarterly reports. However, computing your ERTC credits requires visibility into your P&L and PPP forgiveness applications. Not only that, but the complex requirements around eligibility and allocating ERTC credits at the employee-level while accounting for annual and quarterly qualifying wage caps.

The Payroll Services that we’ve worked with so far are happy to provide the payroll registers that we need to perform the allocations. And they are happy to file the Amended Form 941-X with the IRS on our client’s behalf, but that is usually the extent of it.

In fact, most Payroll Services are asking clients to sign an indemnification waiver before submitting a Form 941-X because the Payroll Service can take no responsibility for the accuracy of the ERTC credits you are claiming. For them to involve themselves in the intricacies of this calculation, it is a liability and beyond their scope of services.