If your business is waiting for Employee Retention Credit (ERC) funds, you’re not alone. The IRS is currently racing to process over 400,000 ERC claims, representing nearly $10 billion in delayed COVID relief. This acceleration in processing is welcome news for those in need of immediate financial support.
IRS Prioritizes Hurricane-Affected Businesses
The IRS recently announced its commitment to fast-tracking ERC claims, particularly for those businesses hit hardest by Hurricanes Helena and Milton. For many, these funds are a critical part of their recovery. The ERC offers a significant tax credit—up to $26,000 per employee—to help businesses that retained employees during the pandemic.
What Does This Mean for Your ERC Claim?
If your business has filed an ERC claim, you might be wondering what this new push from the IRS means for you. While faster processing is a huge relief, it’s essential to ensure your claim is fully compliant with IRS guidelines. Errors or inconsistencies could lead to delays, denials, or even audits down the line.
At Save My ERC, we specialize in ERC claim reviews to ensure your submission is flawless and meets every IRS requirement. We’ve helped numerous businesses successfully navigate the ERC process, and we’re here to provide the guidance you need—whether you’re preparing for a new submission or waiting on an existing claim.
How to Make Sure Your ERC Claim Is Ready
Here are some of the steps you should take to avoid issues with your ERC claim:
- Review Your Eligibility: Ensure your business meets the Employee Retention Credit eligibility requirements. The IRS has strict criteria, and any discrepancies could jeopardize your claim.
- Verify Your Calculations: Accurate calculations are key. Make sure your payroll data is precise and matches the IRS’s guidelines for ERC claims.
- Check for Compliance: Your submission must be fully compliant with IRS rules. Review your ERC claim for accuracy to ensure you didn’t miss any critical documentation or details that could cause delays or trigger an audit.
Why Expert Help Is Crucial Right Now
The IRS’s fast-tracking of ERC claims is both an opportunity and a challenge for business owners. On one hand, hurricane-hit businesses may receive much-needed funds more quickly. On the other hand, there is little room for error in these high-volume reviews. Hiring an expert to review your ERC claim can save you time, prevent delays, and ensure your business gets the relief it’s entitled to without unnecessary complications.
Schedule a meeting with us today, and let Save My ERC review your claim. With $10 billion in pending claims and the IRS pushing for quicker processing, having a flawless claim has never been more important.