The Employee Retention Credit (ERC) is a tax credit for businesses affected by COVID-19. The IRS states that it can take 18-24 weeks to process an ERC claim. The high volume of COVID-19-related tax credit and deduction claims the IRS has received causes a backlog in processing.
The ERC is granted on a first-claim, first-serve basis. To avoid delays, business owners need to act quickly and determine their eligibility for the ERC as soon as possible. Eligibility relies on the type of impact a business suffered from the pandemic in 2020 and 2021.
Schedule a complimentary consultation with us to see if your business qualifies: