IRS shares 5 warning signs that Employee Retention claims may be incorrect. As stated in IR-2024-78, the IRS is currently in the process of reviewing $3 billion in claims and plans to ramp up the sending of disallowance letters and audit notices in the coming months.
Your business can receive up to six to seven figures in refunds if they had to make adjustments over the last two years due to supply chain issues, capacity limitations, decrease in revenue or other pandemic related impacts.
Your business can receive up to six to seven figures in refunds if they had to make adjustments over the last two years due to supply chain issues, capacity limitations, decrease in revenue or other pandemic related impacts.
Contact us to receive more information about the Employee Retention Credit
Annual Revenue: $12.4 Million
ERC Qualifications
Annual Revenue: $13.4 Million
ERC Qualifications
Annual Revenue: $1.3 Million
ERC Qualifications
Putting it simply, the Employee Retention Credit (ERC) is exactly what it sounds like—business owners are being rewarded for their efforts to keep employees on payroll during the pandemic. We are working closely with decision makers in Washington on this nationwide effort to help the U.S. economy not only recover from the pandemic, but to come back stronger than before.
During the pandemic, many businesses in the Hospitality sector faced issues like:
The ERC has gone through significant updates, so even if you or your advisor have reviewed this credit before, we encourage you to take another look with one of our specialists. Unfortunately, the program is not yet living up to its full potential because many business owners are prematurely disqualifying themselves due to misinformation and rumors about who does or doesn’t qualify.
The overarching theme for businesses to focus on is how the coronavirus pandemic impacted our economy as a whole…so even if your business grew or was deemed an essential business during the pandemic, there are more qualifying factors to look at before you disqualify yourself.
This payroll tax credit is available to essential and non-essential businesses in any industry who endured the effects of the pandemic. Government orders—on federal, state, and local levels—are a major factor that many business owners had to adapt to over the last year and a half. Examples of affected businesses include a restaurant that could not let customers dine indoors or a manufacturer that had to slow their operations due to new health and safety restrictions.
Download our top insights on employee retention credit.
Other providers wanted to charge us just to tell us how much we were qualified to claim. alliantgroup was different; they actually cared about our business and there have been no upfront costs whatsoever. They’ve treated us like family every step of the way and I’d recommend them to any restaurant owner.
The return on our investment in the alliantgroup study was substantial. I’m happy to recommend alliantgroup because they did a great job serving my company as a consultant. Their team of tax experts will be an excellent resource for any other company.
Schedule a free consultation with our team of experts to learn more.
We’ll discuss your eligibility and help estimate your potential tax benefit.
