What’s With The Hard Sell I’m Getting From All Of These ERC Companies?
If you’ve been receiving an unusual number of calls from companies offering Employee Retention Credit (ERC) services, you’re not alone. With the onset of the COVID-19 pandemic, the federal government created the Employee Retention Credit (ERC) to help employers keep their employees on the payroll. The program has since evolved and more employers can be eligible for the refundable tax credit.
These ERC companies understand that while the ERC credit is beneficial to businesses, it can be a complicated and time-consuming process to understand and take advantage of the credit. That’s why they’re willing to help employers figure out the best way to use the credit to get the most out of it. The ERC is a refundable tax credit against the employer taxes. For businesses to be eligible, they must have experienced significant declines in revenue due to the pandemic, or have experienced operational impacts due to COVID-related government shutdowns. The tax credit can cover W-2 wages paid from March 13, 2020, until September 30, 2021. There is also a startup credit provision for the last two quarters of 2021. Employers also may file applications for this credit until the current filing deadline of April 15, 2024 for 2020 wages and April 15, 2025 for wages paid in 2021.
Many businesses, hearing about the ERC for the first time through these sales calls, are now turning to the ERC companies for assistance in understanding and utilizing the credit. DUB Financial, for example, is a company that specializes in helping businesses with their employee retention credit. We provide comprehensive guidance on the ERC, offering free eligibility analysis and assistance with filing documents.
When choosing an ERC company to work with, it’s important to make sure they’re well-versed in the rules and regulations of the credit and can offer you reliable advice and guidance. Additionally, it’s also important to make sure that the company you work with operates on a “no-win, no-fee” basis, meaning you won’t pay unless you actually receive the credit.
It is also important to understand how these vendors charge you and how much. DUB Financial charges a simple 15% on whatever your credit is. We don’t charge anything upfront and you only pay us if you get paid.
The ERC is an incredibly valuable resource for businesses, and the help these ERC companies provide is critical to the survival of many businesses. So, if you’re receiving numerous calls from these companies, it’s likely that they’re just trying to help you get the most out of this valuable credit.
No matter who you work with, the ERC can be a powerful tool to help you manage your expenses, keep employees on the payroll, and recoup expenses incurred during the health crisis. So, if you’re being contacted by ERC companies, take some time to understand the credit, its benefits, and if it’s right for your business.