Employee Retention Credit Blog Posts

An ERC bridge loan is a short-term loan that is used to “bridge” the cash flow gap between the time a person applies for the Employee Retention Credit and when their refund is received months later.

If it’s too late for you to withdraw your ERC request, but you know that the request is invalid and that you weren’t actually eligible for the employee retention credit, you may be faced with filing error penalties and/or held responsible for repaying the employee retention credit.

Tax laws vary from state to state, so how the ERC affects your state income tax return is based on where you live. Many states have adopted federal laws for the treatment of ERC for state tax purposes, while others have created their own laws.

An ERC refund refers to the employee retention credit that eligible taxpayers can receive from the IRS, while an ERC loan is a type of advance that some companies offer to give employers faster access to their ERC credit.

The goal of a ghost preparer is to take advantage of taxpayers by taking a large fee or directing the taxpayers return to their own bank account or mailing address without the taxpayer’s knowledge — and then disappear without a trace to secure their fraudulent money can be tracked.

The IRS sends notices to taxpayers when there is a tax return error, to request a payment, to request additional information, or to notify you about a change.
The CP210/CP220 notice is sent by the IRS when there is a change to your tax return. These changes always pertain to the tax year listed on the notice.

An ERC loan is an advanced payment for your pending ERC refund. If your business can’t wait 12+ months for a check from the IRS, an ERC loan can help.

ERC refund, ERC loan, ERC grant. What’s the difference? Which one is right? How do you apply? We’ll walk you through the basics of the Employee Retention Credit (ERC) and how you can take advantage of this unique tax credit.

The good news is that the ERC moratorium sounds scarier than it actually is. The even better news is that eligible businesses can still submit ERC applications through reputable ERC companies in the meantime. The only real difference this makes to legitimate ERC claims is that the processing time will be affected while the IRS cracks down on illegitimate claims and improves its processes.

Instead of waiting up to a year or longer to receive an Employee Retention Credit refund check from the IRS, business owners are seeking ERC loans. With an ERC loan, a lender provides a percentage of an ERC refund (typically up to 65% of the refund amount) upfront so businesses have quick access to capital.