What would you do if I told you I could guarantee your small business a refundable tax credit of $26,000 per employee—without ever having seen your books?
I hope you’d run in the opposite direction.
But increasingly, employers are sticking around to hear more, and some have been convinced to claim the Employee Retention Credit, or ERC, when they might not qualify. This week, the IRS warned businesses to be cautious when third parties promise tax savings that are too good to be true.
ERC Basics
The ERC was introduced in March 2020 as part of the CARES Act. It ...
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