Our Small Business Service - ERTC Specialist
Employer's Retention Tax Credit (ERTC)
- Employers (especially restaurants, bars, churches, salons, and many service companies) can qualify even if you had PPP loan forgiveness.
- Get up to $26,000 per employee! (Worth a few minutes to call, right?)
- 2 ways to qualify A. Have your gross receipts go down 50% or more in any quarter in 2020 and/or 20% down in 2021 for any quarter thru Set 30. and/or B: Have your business operations curtained or a change in operations that affected some important part of your business.
- We need to have copies of your employee wage journals by the pay-period including Federal forms 941 for all quarters of 2020 and thru October for 2021 along with each year's sales tax reports AND your unemployment reports for both years.
- If you received PPP loans we would need to have the paper work as to when you received them. Most received two loans. Also the paper work for when you asked forgiveness for the loans. .Your loan provider should have copies of these.
- Once you get the paperwork together we can either complete all the work at your site (I'll need a LOT of coffee) and it may take a few days, or I can pick it all up and complete at my office and I'll provide my own coffee. You will need to hang on to these papers when I return them for 5 years.
- You have to file a separate Federal form 941-x for up to 6 quarters. Time will start running out by this time next year and there are thousands and thousands of businesses that qualify so you need to get going TODAY!
- Takes a very long time for the IRS to send your checks out but do not worry, our fee of 5% is not due until you get YOUR checks. Yes you may have to write us 6 checks. If you call me the day you get them in the mail you get a 10% discount off the fee. Yes, I check dates!
- And if you think you can do all the above by yourself maybe you should come work for me!
Serving Our Community
Our family-owned tax service has been serving the community since 1981. We've served over 10,000 Quad City families, many who now have grandchildren using our services.