DID YOU KNOW: Filing a claim for the Employee Retention Tax Credit (ERC) is highly complex. And, it’s not an area of expertise for most of the CPA and tax professionals engaged by businesses.
That’s why it’s critical for businesses to hire experienced professional ERC tax preparation providers to help them apply for – and then receive – the maximum Employee Retention Credit funds possible.
We undertook the arduous task of researching to find the very best ERC specialists to assist you.
In our research we discovered that, almost without exception, ERC filing services do NOT disclose on their websites the actual fee that they will charge you for preparing and filing your ERC claim.
So, we have made sure to include, in our reviews below, the fee you can expect to pay for their services, so you can make an informed decision on which provider to choose.
IMPORTANT: If you are looking for detailed information about what the Employee Retention Tax Credit involves (and you are not yet ready to engage an ERC expert to assist you in filing your claim), we highly recommend you check out this website. There you can learn about the Employee Retention Credit and how it can provide free funding for your business.
ARE YOU SELF-EMPLOYED? If you are self-employed, you will not qualify for the ERC. HOWEVER, you may qualify for a different program that offers a tax credit called the Families First Coronavirus Response Act (FFCRA). Check out this website to learn if you can qualify for a tax credit of up to $32,220.
HIGHLIGHTS – Get pre-approved and find out your estimated tax credit amount in as little as 10-15 minutes with their online pre-qual app. At 15%, their filing fee is amongst the lowest in the industry.With more than 43 years of forensic accounting experience, ERC Specialists employ enrolled agents with the IRS and certified fraud examiners – and have provided accounting and auditing services for agencies including the FBI, the SEC, US Customs and the US Postmaster General. Over 60,000 businesses helped, with more than $10 billion in tax credits claimed.
HIGHLIGHTS – Lowest % charged of your ERC tax credit as their fee (7.5-15% *even lower if the business pre-pays). Get pre-approved online and find out your estimated tax credit amount quickly. The company boasts that their goal is to maintain a 100% success rate for clients. To date, ERC Today has helped businesses secure over $400 million in tax credits. If you need your tax credit funds faster than the IRS processes your claim (6-8 months), ERC Today has an advanced funding option.
Orange County, CA
HIGHLIGHTS – No out of pocket expense. % of tax credit charged with a fee of 6.5 – 15% of tax credit received (based on size of business). Business must have a minimum of 3 w2 employees (not counting primary owners) to qualify for their services. Business can pre qualify via phone interview. The company’s CPAs provide a detailed audit protection safeguard. “GetMyFunds.com (GMF) has helped over a thousand companies receive more than $300 million in pandemic-related funding by leveraging our expertise to optimize the process and maximize funding. Our dedicated experts will guide you and outline the steps you need to take so you can maximize the claim for your business.”
Des Moines, IA
* Not currently submitting new ERC claims (read more here)
HIGHLIGHTS – No out of pocket expenses but they charge 25% of your ERC tax credit as their fee. Get prequalified in as little as 8 minutes with their online app. “Innovation Refunds is powered by a customer centric mindset, top-of-the line talent, and experienced leadership from the world’s most trusted brands. That’s how we’re able to achieve our mission of helping thousands of businesses across the country.”
HIGHLIGHTS – No out of pocket expense. % of tax credit charged as fee ranges between 15%-30%. Business must have a minimum of 4 w2 employees (not counting primary owners) to qualify for their services. Business can pre qualify via phone interview. “BottomLine Concepts reviews technical details, including how to determine qualified wages, which employees are eligible, and more. Your business’ specific case might require more intensive review and analysis. The program is complex and might leave you with many unanswered questions.We can help make sense of it all. Our dedicated experts will guide you and outline the steps you need to take so you can maximize the claim for your business.”
HIGHLIGHTS – $750-$5000 upfront retainer fee & they charge between 15%-25% of the tax credit as their fee. Pre qualify via a phone interview. Business must have a minimum of 5 w2 employees to qualify for their service.“We perform a due diligence double-check to provide audit protection to each client, ensuring your business meets the IRS’s official ERC qualifications. We maximize your ERC refund while staying within the law, and provide documentation to back up your ERC claim.”
Jorns & Associates
HIGHLIGHTS – $2600 upfront deposit and 20% of tax credit as a processing fee. Pre qualify via phone interview. Business must have a minimum of 10 w2 employees to qualify for their services. “No need to be the guinea pig for your CPA. We average 10-20% more funding than a CPA not familiar with the program. Our team strictly focuses on ERC allowing us to be the experts and resulting in more funding for your business. We evaluate your claim in every way possible to ensure we maximize your credit.”
There’s no question that the COVID pandemic was a terrible time in our history. Businesses around the world suffered immensely from the outbreak of the disease. In the United States, businesses were forced to close their doors, ultimately crippling them and their ability to pay salaries to retain employees.
In order to prevent further economic damage, Congress stepped in with a solution to help small businesses to stay afloat and continue to operate as best as possible without having to let employees go.
The ERC was under the CARES Act (Coronavirus Aid, Relief, and Economic Security Act), which was a $2.2 trillion economic stimulus bill passed by the U.S. Congress and signed into law by President Trump on March 27, 2020. The bill was developed in direct response to the economic fallout for businesses during the COVID pandemic of 2020. The bill was amended under President Biden as the American Rescue Plan Act (amended to allow companies to have access to both PPP & ERC funds).
The program provides funds for businesses that were affected by the pandemic (Covid). Under the bill, qualifying businesses are eligible to apply for their fair share of funds being dispersed by the Federal Government. $500 billion dollars have been allocated to this program which is scheduled to be available through 2025.
Important questions to ask when speaking with an ERC specialist or provider:
This page includes affiliate links. If you click and decide to use the services offered by one of the providers mentioned, TTG may receive a small commission, however, this is at no extra cost to you.
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