Be Aware of Companies Aggressively Marketing the ERC

If you are a business owner who has been affected by the COVID-19 pandemic, you may be eligible for the Employee Retention Credit (ERC), a refundable tax credit that can help you keep your employees on payroll.

However, you should be aware of some companies that are aggressively marketing the ERC credit as a way to get you to sign up for their services. 

These companies may claim that they can help you maximize your ERC credit, or that they have special expertise or access to the IRS. They may charge you high fees or commissions, or ask you to share sensitive information such as your tax returns or payroll data. They may also make false or misleading promises about the amount or timing of your credit. 

The truth is, you do not need to hire anyone to claim the ERC.

You can apply for it yourself by filling out Form 941, Employer's Quarterly Federal Tax Return, and attaching Form 7200, Advance Payment of Employer Credits Due to COVID-19. You can also consult with your trusted tax professional or accountant for guidance. The IRS has a webpage with detailed information and FAQs about the ERC credit: https://www.irs.gov/coronavirus/employee-retention-credit. 

Do not fall for companies that are aggressively marketing the ERC. They may be trying to take advantage of your situation and charge you for something you can do on your own. Be careful and do your research before you sign any contracts or share any information with them.