Lets talk first about Innovation Refunds .Com Scam :

Our group here what do these guys doing everyone in this space is assisting teach people about ERC and uh constantly supply a stunning breakfast and have individuals actually find out about the program we must head to the space where we are able to show a few of the checks that we are getting for business and I want to see that what is this this is uh hundreds of millions of dollars actually Kevin numerous countless dollars so these are duplicate copies of the letters that go to customers verifying that the check is on the method I imply you know if you just start to look at a few of these here I suggest this one’s 8 million this one is 1.1 million 1.7 million 1.4 million I mean it’s simply I mean think about how many actual customers that went through the program yeah this is the very end this is the celebration at the end when the check is confirmed the numbers are validated and the check is on the mail in the mail from the internal revenue service heading to the client so that’s how you’re able to track it you know when you

receive this you understand the check is gone for sure and that’s when they pay so they don’t pay anything up until they really get the cash they do not pay bottom line Wonder trust anything till this letter is verified the check is on the way they deposit it into their savings account and they can genuinely trust Wonder trust that the process has actually been finished and the number of you believe you have actually processed since you began this we have to do with 35 000 of these for

 

about six billion dollars wow so plainly they understand what they’re doing and that’s what you need you require professionals on the other end of the phone to process this and get it to where you get one of these that’s what matters all right Mr Wonderful here you’re at my YouTube channel we’re talking about something actually important today the staff member retention credit which the majority of you have never become aware of I certainly hadn’t become aware of it until very just recently and found out a lot about it since this is probably the most affordable expense of capital for any small company anywhere

anytime if you have employees in between five and five hundred so I have actually got the specialist with me this is Josh Fox he’s the founder and CEO of bottom line Ideas they’re the biggest processor of these ERC credits this is a 170 page program so it’s hard this isn’t like PPP we just call your bank supervisor and state provide me a loan it does not work there’s not a loan it’s an application and Josh is going to tell all of us about it and how to get it and why I’ve ended up being yes the Ambassador and paid representative for this I love this program it’s disappearing soon you got to discover everything about it let’s talk worker retention credit Josh Fox what is an ERC let’s just begin there so during the Trump Administration when President Trump was enacted they developed the cares Act and the cares act offered companies 3 opportunities you had the PPP loan you had the eidl loan and you had the ERC tax refund and almost everyone it makes a huge distinction right there two of them are loans and one’s a refund precisely so the ERC is a refund that’s.

remedy the cash cash payroll tax refund all right go on sorry I just have to make sure we got that point I indicate that’s a big difference a loan versus cash money I like money money that’s what we’re discussing fine and the other loans are done so we’re sitting here in 2023 and the eidl is over the PPP is over and the only one left from the original cares Act is the ERC and yes Kevin it is a stunning difficult check in the mail where you get real cash from the IRS all right so let’s talk about how it works because it sounds like to me if it’s a if it’s employee retention credit that individual had to be a worker so I’m going to make the Assumption this cash is not for the owner not for people on the cap table not for investors it’s for workers right you needed to have owned a service however it’s based upon you having W-2 staff members in America not 10.99. so as long as you had W-2 staff members and you paid federal payroll taxes that’s why you would be qualified so you need to be on payroll in 2020 on the W-2 and you have to be on payroll for the first 6 months of 2021 on the W-2 right so there were 6 quarters the program was open well walk us through the six quarters so you had quarters two three and 4 of 2020 and you had quarters one 2 and three of 2021. all right so that’s how it’s measured you have to be on the W-2 throughout that duration now let’s talk my favorite part money how much can you get back per worker that was on a W-2 in those six quarters so the calculation in 2020 to be exact Kevin is 50 of the staff member’s wage to an optimum of 5 thousand dollars per employee for the year of 2020 and in 2021 the numbers skyrocketed to 70 of the staff member’s salary to an optimum of seven thousand per quarter how did that take place um they simply altered the rules in.

2021 versus due to the fact that the chaos of the pandemic so they wished to even get more to keep those employees on payroll 100 so if you can get 5 000 per person Max in twenty that was 50 in 2020 approximately 5 thousand Max and then what happens 21 000 Max in 2021 oh that’s how you come up with twenty 6 thousand twenty one thousand to twenty twenty one plus five thousand in twenty twenty that’s twenty 6 thousand dollars per staff member that is since that’s a lot of cash it is now there’s a caution here the PPP money would need to be reduced from the twenty 6 thousand dollars so if you took PPP loan one and PPP loan two you would minimize the 26 000 so what we’re seeing typically Kevin is if you took PPP money somewhere around ten thousand dollars an individual so let’s say hypothetically you owned a restaurant in New York City where I’m from and you had a hundred staff members and you took PPP money you would still get a million dollar in the mail from the internal revenue service so it’s substantial certainly now the big concern is why does no one understand about this since appearance when I initially became aware of this when I initially satisfied Josh you understand I have actually got great deals of financial investments in great deals of business I’m a major supporter for entrepreneurship in America and make many many financial investments in entrepreneurs of which numerous suffered through the pandemic when I initially found out about this I called BS I do not believe it due to the fact that I utilize the PPP we went through the cash center Banks to get it it was really easy to do we had our CEOs call the banks they got their loans which were well deserved and we used them sensibly to survive during the pandemic so when I heard about this I said nah it can’t be true however when I dug around I even called to my politician friends Guv Senators they didn’t know about it I imply that’s how you know that’s how misinformation is that there’s no information out there then a bunch of individuals told me well you can’t get it due to the fact that you took the PPP likewise not real so let’s ask Josh why does nobody learn about the worker retention credit you understand what’s fascinating you’re talking about the banks Kevin since in the PPP loan process the federal government made it very clear that if you wanted a PPP loan you would call Wells Fargo Citibank Bank of America any of the huge banks in our country and they would process process in Canada a pre-pp loan there’s no loans in Canada by the way it’s simply procedure procedure that’s all um and here there was turmoil because remember in the initial cares act you could refrain from doing both programs so if you had done PPP you might not do ERC in the initial program and when they changed the law in 2021 the banks were not doing ERC because it’s not alone so you’re getting a tax refund so the federal government never made it clear to any person about how to.

do this does your CFO understand how to do this not really he or she’s never ever done it previously do the banks do it nope the banks don’t do it the payroll business yeah some of them are doing it as a payroll business your accountant no your accounting professional’s never done this prior to unless you have an account that entered into this business and bottom line my company Kevin has actually stayed in business considering that 2009 and we’ve been working with the federal government and the state government to recuperate money for Fortune 500 Fortune 1000 companies so a lot of our huge big corporate customers have actually worked with bottom line to recover other federal government programs we have actually done sales tax and use tax joblessness tax work opportunity tax credits research and development tax credits unclaimed property real estate tax all of these other federal government programs.

The worker retention tax credit is a broad based refundable tax credit created to encourage.
companies to keep employees on their payroll. The credit is 50% of up to $10,000 in incomes paid by an.
Due to the fact that of COVID-19 or whose gross receipts, employer whose service is completely or partially suspended.
decrease by more than 50%.
Availability.
1. The credit is readily available to all employers regardless of size including tax exempt organizations. There are.
only 2 exceptions: (1) state and local governments and their instrumentalities and (2) little.
organizations who take Small Business Loans.
2. To qualify, the employer needs to meet one of two alternative tests. The tests are determined each.
calendar quarter– Either.
o the employer’s organization is totally or partly suspended by government order due to COVID-19.
throughout the calendar quarter or.
o the company’s gross invoices are below 50% of the similar quarter in 2019. As soon as the.
company’s gross receipts go above 80% of a comparable quarter in 2019 they no longer certify.
after completion of that quarter.

Computation of the Credit.
The amount of the credit is 50% of the qualifying salaries paid up to $10,000 in overall.
It is effective for earnings paid after March 13th and before December 31, 2020.
The meaning of certifying salaries differs by whether an employer had, typically, more or less than.
100 staff members in 2019.

Companies that specialize in ERC filing support generally offer proficiency and assistance to help companies navigate the complicated procedure of declaring the credit. They can offer different services, including:.

 

How is the employee retention credit calculated? Innovation Refunds .Com Scam

Eligibility Evaluation: These companies will examine your business’s eligibility for the ERC based upon factors such as your industry, profits, and operations. If you fulfill the requirements for the credit and identify the optimum credit quantity you can declare, they can assist determine.
Documents and Estimation: ERC filing services will help in collecting the necessary documentation, such as payroll records and financial statements, to support your claim. They will also help calculate the credit quantity based upon eligible incomes and other certifying expenses.
Retroactive Claim Evaluation: If you are qualified to declare the ERC for previous quarters, these companies can evaluate your previous payroll records and financials to recognize prospective opportunities for retroactive credits. They can help you modify prior tax returns to claim these refunds.
Filing Support: Business concentrating on ERC filings will prepare and send the essential kinds and paperwork on your behalf. This includes finishing Type 941 or any other necessary tax forms.
Compliance and Updates: ERC policies and guidance have developed with time. These business remain updated with the latest modifications and make sure that your filings comply with the most current guidelines. If the Internal revenue service requests additional info or carries out an audit associated to your ERC claim, they can likewise supply ongoing assistance.
It is very important to research study and veterinarian any business providing ERC filing help to guarantee their reliability and know-how. Try to find established firms with experience in tax and payroll services, or think about connecting to trusted accounting companies or tax experts who offer ERC submitting support.

Remember that while these companies can provide valuable support, it’s constantly an excellent idea to have a standard understanding of the ERC requirements and procedure yourself. This will help you make notified choices and guarantee accurate filings.

The Staff Member Retention Credit (ERC) is a refundable tax credit introduced by the U.S. government as part of COVID-19 relief steps. The objective of the ERC is to encourage businesses to keep and pay their staff members throughout the pandemic, even if their operations have been impacted.

Here are some key points about the ERC:.

Eligibility: The ERC is readily available to qualified companies, consisting of for-profit organizations, tax-exempt companies, and particular governmental entities. To qualify, companies should satisfy one of two requirements:.
The business operations were totally or partly suspended due to a government order related to COVID-19.
The business experienced a significant decrease in gross receipts. As mentioned previously, for 2021, a significant decrease is specified as a 20% decline in gross receipts compared to the same quarter in 2019. For 2022 and beyond, a considerable decline is defined as a 20% decrease in gross receipts compared to the exact same quarter in 2019, or a 20% decline in gross receipts compared to the immediately preceding quarter.
Credit Quantity: The ERC is a refundable tax credit that offsets the employer’s share of Social Security taxes. The credit amount is equal to a portion (as much as 70%) of qualified earnings paid to staff members, consisting of certain health plan expenditures. The maximum credit per employee is $7,000 per quarter in 2021 and $10,000 per quarter in 2022 and beyond.
Interaction with PPP: At first, businesses that received an Income Security Program (PPP) loan were not eligible for the ERC. Legislation passed in late 2020 and extended in 2021 enables organizations to claim the ERC even if they got a PPP loan. However, the same wages can not be used to claim both the PPP loan forgiveness and the ERC.
Retroactive Arrangement: The ERC has been retroactively broadened and enhanced, allowing qualified employers to declare the credit for qualified incomes paid as far back as March 13, 2020. This retroactive provision provides an opportunity for businesses to change prior-year tax returns and receive refunds.
Claiming the Credit: Employers can claim the ERC by reporting it on their work tax returns, usually Kind 941. If the credit surpasses the quantity of work taxes owed, the excess can be refunded to the employer.
It is very important to keep in mind that the ERC provisions and eligibility requirements have actually developed with time. The very best strategy is to seek advice from a tax professional or go to the main IRS website for the most detailed and up-to-date information concerning the ERC, including any current legal modifications or updates.

To qualify for the ERC, a business should satisfy one of the following criteria:.

The business operations were completely or partly suspended due to a federal government order related to COVID-19.
Business experienced a significant decline in gross receipts. For 2021, a significant decrease is specified as a 20% decrease in gross receipts compared to the same quarter in 2019. For 2022 and beyond, a substantial decline is specified as a 20% decline in gross receipts compared to the exact same quarter in 2019, or a 20% decrease in gross receipts compared to the instantly preceding quarter.
The ERC is available to companies of all sizes, consisting of tax-exempt companies, however there are some exceptions. Government entities and companies that received a PPP loan may have limitations on claiming the credit.

The process for declaring the ERC involves completing the required kinds and consisting of the credit on your employment tax return (normally Form 941). The exact time it requires to process the credit can vary based on numerous elements, including the intricacy of your service and the workload of the IRS. It’s advised to talk to a tax expert for assistance particular to your scenario.

There are a number of companies that can help with the process of declaring the ERC. These consist of accounting firms, tax advisory services, and payroll provider. Some well-known companies that provide assistance with ERC claims consist of ADP, Paychex, Deloitte, and Ernst & Young. It’s suggested to research study and contact these business directly to inquire about their services and charges.

Please note that the details offered here is based upon general understanding and might not show the most recent updates or modifications to the ERC. It is essential to seek advice from a tax expert or visit the main internal revenue service website for the most current and precise details concerning eligibility, claiming treatments, and readily available support.

Less than 100. The credit is based if the company had 100 or fewer employees on average in 2019.
on salaries paid to all employees whether they actually worked or not. In other words, even if the.
employees worked full-time and got paid for full-time work, the company still gets the credit.
Greater than 100. If the company had more than 100 employees on average in 2019, then the credit is.
permitted just for earnings paid to staff members who did not work throughout the calendar quarter.
In both cases, “incomes” includes not just money payments however also a portion of the expense of company.
provided health care. Innovation Refunds .Com Scam
Payment.

Employers can be instantly repaid for the credit by decreasing the amount of payroll taxes they.

Lets talk first about Innovation Refunds.Com Scam :

Our group here what do these people doing everyone in this room is helping teach people about ERC and uh constantly provide a lovely breakfast and have individuals actually learn about the program we must head to the room where we are able to show a few of the checks that we are getting for companies and I wish to see that what is this this is uh numerous millions of dollars actually Kevin hundreds of millions of dollars so these are duplicate copies of the letters that go to customers confirming that the check is on the method I imply you know if you simply begin to take a look at some of these here I imply this one’s 8 million this one is 1.1 million 1.7 million 1.4 million I indicate it’s simply I suggest think of the number of actual clients that went through the program yeah this is the very end this is the celebration at the end when the check is confirmed the numbers are validated and the check is on the mail in the mail from the internal revenue service heading to the client so that’s how you’re able to track it you know when you

receive this you understand the check is gone for sure and that’s when they pay so they do not pay anything till they actually get the money they do not pay bottom line Wonder trust anything up until this letter is validated the check is on the method they transfer it into their checking account and they can really rely on Wonder trust that the process has been finished and how many you believe you’ve processed since you started this we have to do with 35 000 of these for

 

about six billion dollars wow so plainly they know what they’re doing and that’s what you need you require professionals on the other end of the phone to process this and get it to where you get one of these that’s what matters all right Mr Terrific here you’re at my YouTube channel we’re speaking about something actually important today the staff member retention credit which most of you have actually never become aware of I definitely had not become aware of it till very recently and learned a lot about it since this is most likely the most affordable cost of capital for any small business anywhere

anytime if you have employees between five and five hundred so I have actually got the professional with me this is Josh Fox he’s the founder and CEO of bottom line Principles they’re the largest processor of these ERC credits this is a 170 page program so it’s not easy this isn’t like PPP we simply contact your bank supervisor and state provide me a loan it doesn’t work there’s not a loan it’s an application and Josh is going to inform us all about it and how to get it and why I’ve become yes the Ambassador and paid spokesperson for this I love this program it’s disappearing very soon you got to discover all about it let’s talk staff member retention credit Josh Fox what is an ERC let’s simply start there so during the Trump Administration when President Trump was enacted they created the cares Act and the cares act offered services 3 opportunities you had the PPP loan you had the eidl loan and you had the ERC tax refund and practically everybody it makes a big distinction right there two of them are loans and one’s a refund exactly so the ERC is a refund that’s.

correct the money money payroll tax refund fine go on sorry I simply need to make certain we got that point I suggest that’s a big difference a loan versus money cash I like money cash that’s what we’re talking about okay and the other loans are done so we’re sitting here in 2023 and the eidl is over the PPP is over and the only one left from the initial cares Act is the ERC and yes Kevin it is a lovely difficult check in the mail where you get actual money from the internal revenue service all right so let’s discuss how it works due to the fact that it sounds like to me if it’s a if it’s worker retention credit that individual needed to be a staff member so I’m going to make the Assumption this cash is not for the owner not for people on the cap table not for shareholders it’s for workers right you needed to have owned a business however it’s based on you having W-2 workers in America not 10.99. As long as you had W-2 staff members and you paid federal payroll taxes that’s why you would be eligible so you have to be on payroll in 2020 on the W-2 and you have to be on payroll for the first 6 months of 2021 on the W-2 appropriate so there were 6 quarters the program was open well stroll us through the 6 quarters so you had quarters two 3 and four of 2020 and you had quarters one 2 and 3 of 2021. all right so that’s how it’s measured you need to be on the W-2 during that period now let’s talk my preferred part cash just how much can you return per worker that was on a W-2 in those six quarters so the computation in 2020 to be specific Kevin is 50 of the employee’s income to a maximum of 5 thousand dollars per worker for the year of 2020 and in 2021 the numbers skyrocketed to 70 of the staff member’s income to an optimum of seven thousand per quarter how did that occur um they simply altered the rules in.

2021 versus due to the fact that the chaos of the pandemic so they wished to even get more to keep those workers on payroll 100 so if you can get 5 000 per person Max in twenty that was 50 in 2020 up to 5 thousand Max and after that what happens 21 000 Max in 2021 oh that’s how you come up with twenty 6 thousand twenty one thousand to twenty twenty one plus 5 thousand in twenty twenty that’s twenty six thousand dollars per worker that is since that’s a lot of cash it is now there’s a caution here the PPP cash would need to be minimized from the twenty 6 thousand dollars so if you took PPP loan one and PPP loan two you would reduce the 26 000 so what we’re seeing typically Kevin is if you took PPP money someplace around 10 thousand dollars an individual so let’s state hypothetically you owned a restaurant in New York City where I’m from and you had a hundred staff members and you took PPP money you would still get a million dollar in the mail from the IRS so it’s big clearly now the huge question is why does no one understand about this since appearance when I initially became aware of this when I initially satisfied Josh you know I have actually got lots of investments in great deals of companies I’m a major advocate for entrepreneurship in America and make many many investments in business owners of which many suffered through the pandemic when I first found out about this I called BS I don’t believe it due to the fact that I use the PPP we went through the cash center Banks to get it it was really easy to do we had our CEOs call the banks they got their loans which were well should have and we used them sensibly to survive during the pandemic so when I became aware of this I stated nah it can’t hold true however when I dug around I even contacted us to my political leader good friends Governor Senators they didn’t know about it I indicate that’s how you know that’s how misinformation is that there’s no information out there then a lot of individuals informed me well you can’t get it due to the fact that you took the PPP likewise not real so let’s ask Josh why does no one learn about the employee retention credit you know what’s intriguing you’re talking about the banks Kevin since in the PPP loan process the federal government made it really clear that if you desired a PPP loan you would call Wells Fargo Citibank Bank of America any of the huge banks in our nation and they would process process in Canada a pre-pp loan there’s no loans in Canada by the way it’s just process procedure that’s all um and here there was mayhem since keep in mind in the initial cares act you could not do both programs so if you had done PPP you might refrain from doing ERC in the original program and when they altered the law in 2021 the banks were not doing ERC because it’s not alone so you’re getting a tax refund so the federal government never ever made it clear to anyone about how to.

do this does your CFO understand how to do this not really she or he’s never done it previously do the banks do it nope the banks don’t do it the payroll business yeah a few of them are doing it as a payroll business your accounting professional no your accounting professional’s never ever done this prior to unless you have an account that entered into this company and bottom line my firm Kevin has stayed in business because 2009 and we have actually been dealing with the federal government and the state federal government to recuperate cash for Fortune 500 Fortune 1000 business so a great deal of our big huge business clients have worked with bottom line to recuperate other federal government programs we’ve done sales tax and utilize tax unemployment tax work chance tax credits research and development tax credits unclaimed property property tax all of these other federal government programs.

The worker retention tax credit is a broad based refundable tax credit created to motivate.
companies to keep staff members on their payroll. The credit is 50% of as much as $10,000 in earnings paid by an.
company whose organization is completely or partially suspended because of COVID-19 or whose gross invoices.
decline by more than 50%.
Accessibility.
1. The credit is available to all companies despite size consisting of tax exempt organizations. There are.
just 2 exceptions: (1) state and city governments and their instrumentalities and (2) small.
organizations who take Small company Loans.
2. To certify, the employer has to fulfill one of two alternative tests. The tests are computed each.
calendar quarter– Either.
o the company’s service is completely or partially suspended by federal government order due to COVID-19.
during the calendar quarter or.
o the employer’s gross invoices are listed below 50% of the similar quarter in 2019. When the.
employer’s gross invoices exceed 80% of a comparable quarter in 2019 they no longer certify.
after the end of that quarter.

Computation of the Credit.
The amount of the credit is 50% of the certifying earnings paid up to $10,000 in total.
It is effective for wages paid after March 13th and prior to December 31, 2020.
The definition of qualifying incomes varies by whether a company had, usually, basically than.
100 staff members in 2019.

Companies that specialize in ERC filing assistance typically supply expertise and support to help services browse the complex process of claiming the credit. They can provide different services, consisting of:.

 

How is the employee retention credit calculated? Innovation Refunds.Com Scam

Eligibility Assessment: These companies will assess your service’s eligibility for the ERC based on aspects such as your industry, revenue, and operations. If you satisfy the requirements for the credit and determine the maximum credit quantity you can claim, they can assist determine.
Documentation and Computation: ERC filing services will assist in gathering the essential paperwork, such as payroll records and monetary declarations, to support your claim. They will also help compute the credit quantity based on qualified incomes and other certifying costs.
Retroactive Claim Evaluation: If you are qualified to declare the ERC for previous quarters, these companies can examine your previous payroll records and financials to identify possible opportunities for retroactive credits. They can assist you modify previous tax returns to claim these refunds.
Filing Help: Companies specializing in ERC filings will prepare and submit the needed forms and paperwork in your place. This consists of completing Type 941 or any other required tax return.
Compliance and Updates: ERC policies and guidance have actually progressed in time. These business remain upgraded with the most recent modifications and guarantee that your filings comply with the most existing guidelines. If the Internal revenue service requests additional info or carries out an audit related to your ERC claim, they can likewise supply ongoing support.
It is essential to research study and veterinarian any business providing ERC filing assistance to guarantee their trustworthiness and proficiency. Search for established firms with experience in tax and payroll services, or consider reaching out to relied on accounting companies or tax specialists who offer ERC submitting assistance.

Bear in mind that while these companies can supply important support, it’s always a good concept to have a standard understanding of the ERC requirements and process yourself. This will help you make notified choices and ensure precise filings.

The Worker Retention Credit (ERC) is a refundable tax credit introduced by the U.S. federal government as part of COVID-19 relief measures. The goal of the ERC is to encourage organizations to maintain and pay their employees throughout the pandemic, even if their operations have been affected.

Here are some bottom lines about the ERC:.

Eligibility: The ERC is offered to eligible companies, including for-profit organizations, tax-exempt organizations, and specific governmental entities. To qualify, companies must meet one of two criteria:.
The business operations were fully or partially suspended due to a government order related to COVID-19.
Business experienced a substantial decline in gross receipts. As mentioned previously, for 2021, a significant decline is specified as a 20% decline in gross receipts compared to the exact same quarter in 2019. For 2022 and beyond, a significant decline is specified as a 20% decrease in gross invoices compared to the very same quarter in 2019, or a 20% decline in gross receipts compared to the right away preceding quarter.
Credit Quantity: The ERC is a refundable tax credit that offsets the company’s share of Social Security taxes. The credit amount is equal to a portion (as much as 70%) of certified wages paid to staff members, consisting of particular health insurance costs. The optimum credit per worker is $7,000 per quarter in 2021 and $10,000 per quarter in 2022 and beyond.
Interaction with PPP: Initially, organizations that received a Paycheck Protection Program (PPP) loan were not eligible for the ERC. Legislation passed in late 2020 and extended in 2021 permits businesses to claim the ERC even if they got a PPP loan. The very same earnings can not be used to claim both the PPP loan forgiveness and the ERC.
Retroactive Provision: The ERC has actually been retroactively expanded and enhanced, permitting eligible employers to declare the credit for certified wages paid as far back as March 13, 2020. This retroactive provision supplies a chance for companies to amend prior-year income tax return and get refunds.
Claiming the Credit: Employers can claim the ERC by reporting it on their employment tax returns, typically Kind 941. The excess can be refunded to the employer if the credit goes beyond the amount of work taxes owed.
It is necessary to note that the ERC provisions and eligibility requirements have evolved gradually. The very best strategy is to talk to a tax expert or visit the main internal revenue service website for the most up-to-date and comprehensive details relating to the ERC, including any recent legal changes or updates.

To qualify for the ERC, a business should satisfy one of the following criteria:.

Business operations were fully or partly suspended due to a federal government order related to COVID-19.
The business experienced a substantial decrease in gross invoices. For 2021, a substantial decrease is defined as a 20% decline in gross receipts compared to the exact same quarter in 2019. For 2022 and beyond, a significant decrease is specified as a 20% decline in gross receipts compared to the exact same quarter in 2019, or a 20% decrease in gross receipts compared to the right away preceding quarter.
The ERC is offered to businesses of all sizes, consisting of tax-exempt organizations, however there are some exceptions. For example, federal government entities and organizations that received a PPP loan might have constraints on declaring the credit.

The process for claiming the ERC includes completing the essential types and including the credit on your employment tax return (usually Form 941). The exact time it requires to process the credit can vary based upon a number of factors, consisting of the complexity of your company and the work of the IRS. It’s advised to talk to a tax expert for assistance specific to your scenario.

There are several business that can aid with the process of declaring the ERC. These consist of accounting companies, tax advisory services, and payroll service providers. Some popular companies that offer help with ERC claims include ADP, Paychex, Deloitte, and Ernst & Young. It’s recommended to research and call these companies straight to ask about their services and fees.

Please note that the information provided here is based upon basic understanding and might not show the most recent updates or modifications to the ERC. It is necessary to consult with a tax expert or go to the main IRS website for the most current and accurate information relating to eligibility, declaring treatments, and available help.

Less than 100. The credit is based if the employer had 100 or fewer employees on average in 2019.
on salaries paid to all staff members whether they in fact worked or not. Simply put, even if the.
employees worked full-time and earned money for full time work, the employer still gets the credit.
Greater than 100. The credit is if the company had more than 100 staff members on average in 2019.
allowed just for earnings paid to employees who did not work during the calendar quarter.
In both cases, “earnings” includes not just cash payments but likewise a portion of the cost of employer.
supplied healthcare. Innovation Refunds.Com Scam
Payment.

Companies can be immediately repaid for the credit by minimizing the quantity of payroll taxes they.

Lets talk first about Innovation Refunds Com Scam :

Our team here what do these people doing everyone in this room is assisting teach individuals about ERC and uh always supply a stunning breakfast and have individuals truly learn more about the program we should head to the space where we are able to show a few of the checks that we are getting for companies and I ‘d like to see that what is this this is uh hundreds of millions of dollars actually Kevin numerous millions of dollars so these are duplicate copies of the letters that go to customers validating that the check is on the way I indicate you know if you just start to look at some of these here I mean this one’s 8 million this one is 1.1 million 1.7 million 1.4 million I suggest it’s simply I mean think about the number of real customers that went through the program yeah this is the very end this is the celebration at the end when the check is validated the numbers are verified and the check is on the mail in the mail from the IRS heading to the consumer so that’s how you’re able to track it you understand when you

receive this you know the check is gone for sure which’s when they pay so they don’t pay anything till they in fact receive the money they do not pay bottom line Wonder trust anything till this letter is validated the check is on the way they deposit it into their savings account and they can really rely on Wonder trust that the procedure has actually been finished and how many you believe you have actually processed given that you began this we’re about 35 000 of these for

 

about six billion dollars wow so plainly they know what they’re doing which’s what you need you require experts on the other end of the phone to process this and get it to where you get among these that’s what matters all right Mr Wonderful here you’re at my YouTube channel we’re talking about something actually important today the worker retention credit which most of you have actually never ever heard of I definitely had not heard of it until really just recently and learned a lot about it because this is most likely the most affordable expense of capital for any small business anywhere

anytime if you have employees in between 5 and five hundred so I’ve got the professional with me this is Josh Fox he’s the creator and CEO of bottom line Principles they’re the largest processor of these ERC credits this is a 170 page program so it’s not easy this isn’t like PPP we simply phone your bank supervisor and state offer me a loan it does not work there’s not a loan it’s an application and Josh is going to inform us all about it and how to get it and why I have actually ended up being yes the Ambassador and paid representative for this I love this program it’s disappearing soon you got to discover everything about it let’s talk worker retention credit Josh Fox what is an ERC let’s simply begin there so during the Trump Administration when President Trump was enacted they came up with the cares Act and the cares act offered services 3 opportunities you had the PPP loan you had the eidl loan and you had the ERC tax refund and almost everybody it makes a huge distinction right there 2 of them are loans and one’s a refund exactly so the ERC is a refund that’s.

remedy the cash cash payroll tax refund all right go on sorry I just need to ensure we got that point I suggest that’s a huge distinction a loan versus money cash I like money cash that’s what we’re speaking about fine and the other loans are done so we’re sitting here in 2023 and the eidl is over the PPP is over and the only one left from the initial cares Act is the ERC and yes Kevin it is a stunning hard check in the mail where you get actual money from the internal revenue service all right so let’s speak about how it works due to the fact that it sounds like to me if it’s a if it’s staff member retention credit that person needed to be an employee so I’m going to make the Assumption this cash is not for the owner not for individuals on the cap table not for shareholders it’s for staff members right you had to have owned an organization but it’s based on you having W-2 employees in America not 10.99. As long as you had W-2 workers and you paid federal payroll taxes that’s why you would be qualified so you have to be on payroll in 2020 on the W-2 and you have to be on payroll for the first six months of 2021 on the W-2 right so there were six quarters the program was open well stroll us through the six quarters so you had quarters 2 3 and four of 2020 and you had quarters one 2 and three of 2021. alright so that’s how it’s measured you have to be on the W-2 throughout that period now let’s talk my favorite part money how much can you get back per staff member that was on a W-2 in those 6 quarters so the estimation in 2020 to be exact Kevin is 50 of the employee’s income to an optimum of five thousand dollars per worker for the year of 2020 and in 2021 the numbers skyrocketed to 70 of the worker’s wage to an optimum of seven thousand per quarter how did that happen um they simply changed the rules in.

2021 versus because the turmoil of the pandemic so they wanted to even get more to keep those staff members on payroll 100 so if you can get 5 000 per person Max in twenty that was 50 in 2020 as much as 5 thousand Max and then what takes place 21 000 Max in 2021 oh that’s how you develop twenty six thousand twenty one thousand to twenty twenty one plus 5 thousand in twenty twenty that’s twenty six thousand dollars per employee that is because that’s a lot of money it is now there’s a caution here the PPP money would need to be decreased from the twenty 6 thousand dollars so if you took PPP loan one and PPP loan two you would decrease the 26 000 so what we’re seeing on average Kevin is if you took PPP cash someplace around ten thousand dollars an individual so let’s say hypothetically you owned a dining establishment in New York City where I’m from and you had a hundred workers and you took PPP money you would still get a million dollar in the mail from the internal revenue service so it’s big undoubtedly now the big question is why does no one know about this since appearance when I first found out about this when I initially satisfied Josh you understand I’ve got great deals of investments in great deals of business I’m a major advocate for entrepreneurship in America and make many many investments in business owners of which lots of suffered through the pandemic when I initially became aware of this I called BS I don’t believe it because I use the PPP we went through the money center Banks to get it it was really easy to do we had our CEOs call the banks they got their loans and that were well been worthy of and we used them carefully to stay alive throughout the pandemic so when I became aware of this I said nah it can’t hold true however when I dug around I even called to my political leader friends Governor Senators they didn’t learn about it I indicate that’s how you understand that’s how false information is that there’s no details out there then a lot of individuals told me well you can’t get it due to the fact that you took the PPP also not real so let’s ask Josh why does nobody know about the worker retention credit you know what’s fascinating you’re discussing the banks Kevin because in the PPP loan procedure the federal government made it extremely clear that if you desired a PPP loan you would call Wells Fargo Citibank Bank of America any of the big banks in our nation and they would process procedure in Canada a pre-pp loan there’s no loans in Canada by the way it’s just process procedure that’s all um and here there was turmoil since keep in mind in the original cares act you might refrain from doing both programs so if you had done PPP you might not do ERC in the original program and when they changed the law in 2021 the banks were refraining from doing ERC because it’s not alone so you’re getting a tax refund so the federal government never ever made it clear to any person about how to.

do this does your CFO understand how to do this not truly she or he’s never done it in the past do the banks do it nope the banks do not do it the payroll companies yeah some of them are doing it as a payroll business your accountant no your accountant’s never ever done this prior to unless you have an account that went into this organization and bottom line my firm Kevin has stayed in business given that 2009 and we’ve been working with the federal government and the state federal government to recover cash for Fortune 500 Fortune 1000 business so a great deal of our big big corporate customers have actually worked with bottom line to recuperate other government programs we’ve done sales tax and use tax joblessness tax work chance tax credits research and development tax credits unclaimed home real estate tax all of these other federal government programs.

The employee retention tax credit is a broad based refundable tax credit created to motivate.
companies to keep employees on their payroll. The credit is 50% of approximately $10,000 in salaries paid by an.
employer whose organization is fully or partially suspended because of COVID-19 or whose gross invoices.
decline by more than 50%.
Availability.
1. The credit is available to all employers no matter size consisting of tax exempt companies. There are.
only two exceptions: (1) state and city governments and their instrumentalities and (2) little.
companies who take Small company Loans.
2. To certify, the company needs to satisfy one of two alternative tests. The tests are calculated each.
calendar quarter– Either.
o the company’s business is fully or partially suspended by government order due to COVID-19.
throughout the calendar quarter or.
o the company’s gross invoices are listed below 50% of the similar quarter in 2019. When the.
company’s gross invoices exceed 80% of an equivalent quarter in 2019 they no longer qualify.
after completion of that quarter.

Estimation of the Credit.
The quantity of the credit is 50% of the qualifying salaries paid up to $10,000 in total.
It is effective for salaries paid after March 13th and before December 31, 2020.
The meaning of certifying salaries varies by whether a company had, typically, basically than.
100 staff members in 2019.

Companies that focus on ERC filing assistance usually supply proficiency and assistance to assist businesses navigate the complicated process of declaring the credit. They can offer various services, including:.

 

How is the employee retention credit calculated? Innovation Refunds Com Scam

Eligibility Evaluation: These companies will examine your organization’s eligibility for the ERC based on aspects such as your industry, revenue, and operations. If you meet the requirements for the credit and identify the maximum credit quantity you can declare, they can help identify.
Documentation and Estimation: ERC filing services will assist in collecting the essential documents, such as payroll records and monetary statements, to support your claim. They will also assist calculate the credit amount based upon qualified earnings and other qualifying expenditures.
Retroactive Claim Evaluation: If you are qualified to declare the ERC for previous quarters, these business can examine your previous payroll records and financials to determine potential chances for retroactive credits. They can help you modify prior income tax return to claim these refunds.
Filing Assistance: Companies concentrating on ERC filings will prepare and send the required kinds and documentation on your behalf. This consists of completing Type 941 or any other necessary tax forms.
Compliance and Updates: ERC guidelines and assistance have evolved over time. These companies remain upgraded with the current changes and make sure that your filings comply with the most existing standards. They can likewise offer continuous assistance if the internal revenue service demands extra details or conducts an audit related to your ERC claim.
It’s important to research and vet any company using ERC filing help to guarantee their trustworthiness and proficiency. Look for established companies with experience in tax and payroll services, or think about reaching out to relied on accounting firms or tax professionals who provide ERC filing support.

Bear in mind that while these business can offer valuable support, it’s always a good concept to have a fundamental understanding of the ERC requirements and process yourself. This will help you make informed decisions and ensure precise filings.

The Staff Member Retention Credit (ERC) is a refundable tax credit presented by the U.S. government as part of COVID-19 relief steps. The objective of the ERC is to encourage organizations to maintain and pay their employees throughout the pandemic, even if their operations have actually been affected.

Here are some bottom lines about the ERC:.

Eligibility: The ERC is available to eligible employers, including for-profit companies, tax-exempt companies, and particular governmental entities. To certify, companies must fulfill one of two criteria:.
The business operations were fully or partly suspended due to a federal government order related to COVID-19.
The business experienced a substantial decrease in gross invoices. As discussed previously, for 2021, a substantial decline is specified as a 20% decline in gross receipts compared to the very same quarter in 2019. For 2022 and beyond, a significant decrease is specified as a 20% decline in gross invoices compared to the very same quarter in 2019, or a 20% decline in gross invoices compared to the right away preceding quarter.
Credit Quantity: The ERC is a refundable tax credit that offsets the company’s share of Social Security taxes. The credit amount is equal to a portion (up to 70%) of certified incomes paid to staff members, including specific health insurance expenditures. The optimum credit per staff member is $7,000 per quarter in 2021 and $10,000 per quarter in 2022 and beyond.
Interaction with PPP: At first, businesses that received a Paycheck Defense Program (PPP) loan were not eligible for the ERC. However, legislation passed in late 2020 and extended in 2021 permits businesses to declare the ERC even if they received a PPP loan. Nevertheless, the exact same wages can not be utilized to declare both the PPP loan forgiveness and the ERC.
Retroactive Arrangement: The ERC has been retroactively broadened and enhanced, permitting qualified companies to claim the credit for qualified earnings paid as far back as March 13, 2020. This retroactive arrangement offers a chance for services to modify prior-year income tax return and get refunds.
Claiming the Credit: Companies can claim the ERC by reporting it on their work tax returns, usually Type 941. The excess can be reimbursed to the company if the credit exceeds the amount of work taxes owed.
It is essential to keep in mind that the ERC arrangements and eligibility criteria have actually developed gradually. The best course of action is to consult with a tax professional or check out the main internal revenue service site for the most comprehensive and up-to-date info regarding the ERC, consisting of any recent legislative modifications or updates.

To receive the ERC, a service needs to meet one of the following criteria:.

The business operations were fully or partially suspended due to a federal government order related to COVID-19.
The business experienced a considerable decline in gross invoices. For 2021, a substantial decrease is defined as a 20% decline in gross invoices compared to the exact same quarter in 2019. For 2022 and beyond, a considerable decrease is defined as a 20% decline in gross invoices compared to the very same quarter in 2019, or a 20% decrease in gross invoices compared to the right away preceding quarter.
The ERC is readily available to businesses of all sizes, consisting of tax-exempt companies, however there are some exceptions. For example, government entities and organizations that got a PPP loan may have limitations on declaring the credit.

The procedure for declaring the ERC involves completing the needed types and including the credit on your work tax return (generally Kind 941). The exact time it requires to process the credit can differ based upon numerous elements, consisting of the intricacy of your organization and the work of the internal revenue service. It’s suggested to speak with a tax professional for guidance specific to your situation.

There are several business that can assist with the process of claiming the ERC. Some popular companies that provide help with ERC claims include ADP, Paychex, Deloitte, and Ernst & Young.

Please keep in mind that the details offered here is based upon general understanding and might not show the most current updates or modifications to the ERC. It’s important to speak with a tax professional or visit the official IRS site for the most accurate and up-to-date info regarding eligibility, declaring procedures, and offered support.

Less than 100. If the employer had 100 or less employees usually in 2019, then the credit is based.
on incomes paid to all workers whether they actually worked or not. To put it simply, even if the.
workers worked full time and made money for full time work, the employer still gets the credit.
Greater than 100. The credit is if the employer had more than 100 workers on average in 2019.
enabled only for wages paid to staff members who did not work throughout the calendar quarter.
In both cases, “wages” includes not simply cash payments however likewise a part of the cost of employer.
offered health care. Innovation Refunds Com Scam
Payment.

Employers can be immediately compensated for the credit by minimizing the amount of payroll taxes they.