“ What does an ERC Expert do?
Correctly check your ERC eligibility.
Accurately calculate the ERC refund amount.
Successfully apply for ERC with the fastest speed”
Common Misunderstandings in ERC applying process
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1. My business revenue has increased instead of decreased during Covid-19 period, am I still eligible to apply?
Yes, you might still be eligible.
As long as your business is affected by the Covid-19 Event, you are eligible for ERC. Being affected by a Covid-19 Event has nothing to do with how much revenue your business generates.
Covid-19 events include:
The government required you to partially or completely shut down your business.
Business restrictions, inability to travel, and limited group meetings.
Compliance with the Social Distancing 6-feet rule, etc.
More complex rules that vary from state to state.
2. I applied for the PPP Loan, and got PPP Loan funding twice, am I still eligible to apply?
Yes, you might still be eligible.
The PPP loan is processed by the SBA and the ERC is processed by the IRS. There is no direct correlation.
However, to avoid double dipping, the amount of the ERC Refund must be reduced by the portion of the PPP loan that is forgiven/the portion used for employee payroll.
3. My business started after the Covid-19 outbreak, say 2021, am I eligible to apply?
Yes, you might still be eligible.
Businesses that started after the Covid-19 outbreak are still eligible to apply, if your business happened to start at the beginning of the outbreak, you may be able to claim the maximum ERC refund, up to $33,000 per w-2 employee.
4. I have applied to the ERC once before, am I eligible to apply a second time?
Yes, you might still be eligible.
The ERC application period is for the entire Covid-19 impact period, including all 4 quarters of 2020 , and all 4 quarters of 2021. That's a total of 8 quarters. You may have applied for only one of these quarters.
We can help you check your eligibility for more quarters and also check the status of the ERCs you have applied for.
There is no cost to you to check the ERC eligibility. Zero up-front Cost. We’re only paid as you receive your ERC refund and credit.
5. The deadline to apply for the ERC has passed and am I eligible to apply?
Yes, you can be eligible.
There is no deadline for ERC , and you can still apply now.
However, the program could run out of allocated funds at any time and is subject to the whims of congress. Time is of the essence as the program has technically expired when you want to apply.
6. My CPA says I am not qualified to apply.
We understand that your CPA is an expert in tax preparation. But with over 50,000 pages of Tax Code, no one is proficient in everything.
For ERC applications, we are the experts.
An ERC application requires dealing with the IRS, even talking to the IRS on the phone, to supplement the application materials. Some accountants have no experience with the IRS other than filing taxes.
ERC is a new program created by the Cares Act and many accountants are not familiar with it.
The eligibility requirements for 2020, 2021 Q1Q2, Q3 and Q4 are different and the rules are complicated. Some accountants are not aware of the latest policies.
80% of small businesses are qualified for ERC, and we can help analyze your files. We know more about ERC rules. Our team has helped small business claim over 150 million ERC refunds.
Help you check the ERC eligibility is Free. No up-front Cost. We’re only paid as you receive your ERC refund and credit.
7. I am concerned that I may be subject to a tax audit after applying for the ERC.
The ERC Program is processed by the IRS.
The amount of the ERC refund is based on Form 941 facts, which are the wages (w-2) you pay to your employees. Form 941 is crystal clear the numbers are black and white.
Usually, a tax audit is caused by Income Tax, which is reported annually and viewed by the IRS and the state. Most tax audits are also initiated by the state.
You are confusing Payroll tax and Income tax, however you should amend your Income Tax for the corresponding tax year after receiving ERC refund.
The ERC eligibility is based on the business being affected by the Covid-19 event. It is not about the income status of the business.
Our ERC application documents are signed by our CPA and we will work alongside with you for the entire ERC application process.
8. Do I need to pay back the ERC money if I received?
ERC refund is not a loan, and does not need to be repaid. There is also no restrictions on how the business use the money.
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Small and Mid-sized businesses are the backbones of the American economy. SME Service LLC was created to help empower these businesses for growth. SME Service LLC is managed by a professional team who service Small and Mid-sized Entity (SME) over 20 years especially in the New York metropolitan area.
Contact Us
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Email：info@SMEserviceLLC.com
Tel：917-243-6332
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