I Love Palm Beach

Florida Companies with W2 Employees May Be Leaving Money on the Table Through The Cares Act?

August 02, 2022 Keith Lorigan Season 4 Episode 2
I Love Palm Beach
Florida Companies with W2 Employees May Be Leaving Money on the Table Through The Cares Act?
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Show Notes

Meet Keith Lorigan who can help Florida companies see if they qualify! This is found money with very little effort!!!! (klorigan@erchelpdesk.com  | Direct: 561-756-2008)

Most companies are owed money in the CARES ACT from the ERC (Employee Retention Credit).  There are multiple ways to qualify other than just a reduction in revenue.  Businesses can capture up to $26,000 per W2 employee, based on certain quarters in 2020 & 2021.  

 The IRS code and guidelines are complex and have changed on the ERC and we know the IRS code very well.   Most CPAs want nothing to do with this b/c it is complicated and they are already super busy.  If a typical CPA has 500 clients, he/she may do this for 2 or 3 of their biggest ones - but that seems about it.  We have CPA's referring to us - as well as Payroll Companies b/c  we do all the work for the business - file the forms - and the business only pays when the Tax Refunds come in 6-7 months or so from now.  IRS is pretty slow at processing these.  There is no upfront filing fee.  You get 85% of what we collect and ERC Helpdesk collects 15%.   Only $20 Billion has been claimed out of $400 Billion in the program which tells you - no one is filing, but this money is owed to businesses.  This program has an expiration 'beginning' in July 2023. If the company can do the survey at www.ERCHelpDesk.com or if they prefer, they can provide the information below, we can tell the company what they will qualify for 'automatically' and then we use 'automatic alternative qualifiers' to determine if any of them apply to the company.    
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