Employee Retention Credit Resources and Services

The Employee Retention Credit (ERC) is a fully refundable payroll tax credit designed to assist employers affected by the COVID-19 pandemic. It can provide a significant refund for eligible employers.

Determining eligibility, however, is a complex process that requires careful review and consideration. The IRS has recently increased its scrutiny of ERC claims after an increase in third-party promoters using aggressive tactics designed to convince organizations to claim the credit without properly assessing the organization’s eligibility. Organizations that file an ERC claim that the IRS determines to be illegitimate must repay the entire credit, along with interest and possibly penalties. This can be costly.

 

Experienced ERC Assistance

CapinCrouse can help, whether you’re considering making an ERC claim, wondering if you should withdraw an existing, unpaid claim to avoid repayment, or considering whether to pay back funds received after filing a claim in error. Our experienced nonprofit tax professionals understand the complexities of ERC claims and IRS audits, and can carefully and thoroughly assess your organization’s specific facts and circumstances. We have been assisting clients with ERC analysis and claims since 2021.

We offer a range of ERC services designed to assist organizations in any stage of the ERC process. This includes:

  • Initial consultations with organizations that are considering the ERC
  • Consultations with organizations that have questions about the ERC
  • Gathering and drafting ERC eligibility documentation you can share with your external auditors and keep in case of an IRS audit
  • Calculation of the amount of qualified wages and ERC claim
  • Drafting and signing, as paid preparer, the 941-X Form(s) used to submit an ERC claim
  • Review of ERC claims that have already been made or are about to be made
  • Assistance with a request by the IRS for additional documentation
  • Assistance with an IRS audit of an ERC claim

Please note that these would be considered non-attest services when provided to our attest clients.

CapinCrouse has the knowledge, resources, and experience to help you navigate the complexities of the ERC.

 

Helpful ERC Resources

We have been working to keep nonprofits up to date on the latest ERC developments since the credit was first introduced. Here are resources to help your organization understand the nuances of the ERC:

Employee Retention Credit Updates and Considerations

Employee Retention Credit Frequently Asked Questions

Employee Retention Credit Updates for 2024 Recorded Webcast

Next Steps as IRS Halts Processing of New ERC Claims Through End of Year

IRS Launches Process for Withdrawing Employee Retention Credit Claims

IRS Launches New Employee Retention Credit Voluntary Disclosure Program

Important Upcoming Employee Retention Due Dates

Assistance with the Employee Retention Credit

Accounting and Reporting for the Employee Retention Credit

Tax Implications of the Employee Retention Credit

 

Contact us with questions or to learn more!