In this Gorfine, Schiller & Gardyn podcast interview, Laura Shuman, Director of Small Business at GSG, breaks down everything you need to know about the Employee Retention Credit (ERC) – from spotting scams to knowing if you are eligible, and beyond.
When the CARES Act was signed into law on March 27, 2020, it established the Employee Retention Credit (ERC), which entitled eligible employers to a refundable tax credit against certain federal employment taxes.
Today, the ERC deadline is on the minds of many business owners, and many are wondering when it will expire. Fortunately, there’s still time to claim some financial relief to make up for losses during the challenging years of the COVID-19 pandemic. In addition, the IRS recently issued a Tax Tip for ERC-related scams.
Following are highlights from this interview:
- A high-level overview of the ERC. (:50)
- Current ERC tax deadlines to note, and the potential significant returns. (2:04)
- Everything you need to know about ERC scams. (3:03)
- How to know if you are eligible for the ERC. (5:52)
- ERC complications and possible exceptions. (7:51)
- How GSG can help you. (11:30)
Podcast, Emerging Regulations, Small Business