Legally Bypassing the IRS Moratorium on ERC Claims
The IRS announced a moratorium on processing new Employee Retention Credit (ERC) claims in early September. This moratorium is set to run through at least December 31st, preventing thousands of US small businesses from applying for and collecting their money.
The Employee Retention Credit (ERC or ERTC) is a complex tax credit for businesses and tax-exempt organizations that kept paying employees during the COVID-19 pandemic either when they were shut down due to a government order or when they had the required decline in gross receipts during certain eligibility periods in 2020 and 2021.
Claiming Your ERC Funds Now
As mentioned in our previous post, Assistance Claiming Your Employee Retention Credit, Fairway Funding has partnered with a firm of accredited and reputable taxation attorneys and accountants, helping small businesses access their funds sooner.
Does Your Business Qualify for the ERC?
If you answer yes to the following questions, your business may be eligible for the ERC.
· Does your business have 500 or less employees?
· Was your business at least partially closed due to a government order?
· Did your business’s revenue drop by 20% or more during any quarter in 2021?
Contact us today to learn more about the ERC and how we can help you access these funds.