Employee Retention Tax Credit (ERTC) Podcast - ERTCPays.com
ERTC Pays Podcast Your One-Stop Hub for All Things Employee Retention Tax Credit (ERTC). Whether you're a small business owner, HR professional, or non-profit, our podcast provides insights into everything ERTC. 1️⃣ ERTC Eligibility: Who qualifies and the 'must-know' guidelines. 2️⃣ ERTC Calculation: Unveil how to calculate your ERTC and maximize your refund. 3️⃣ Claiming Process: Master the forms and docs required to claim your ERTC. 4️⃣ Legal Implications: IRS audits, penalties, and recordkeeping requirements. Check us out at https://www.ertcpays.com
Episodes
In this podcast episode, we discuss the recent order from the IRS to immediately stop processing new Employee Retention Tax Credit (ERTC) claims. The decision comes in response to a surge of questionable claims and concerns from tax professionals, highlighting the unacceptable risk to businesses and the tax system. IRS Commissioner Danny Werfel has announced a moratorium on new claims, effective from today until December 31, 2023.W...
Is ERTC Taxable?
No, the Employee Retention Tax Credit (ERTC) is not taxable income4. The ERTC is a refundable tax credit that rewards businesses for keeping employees during the COVID-19 pandemic[2]. It is designed to provide financial relief to eligible employers and encourage them to retain their workforce[3]. While the ERTC is not taxable, it is subject to cost disallowance laws that essentially render it taxable[4]. It's i...
The Employee Retention Tax Credit (ERTC) is a tax credit available to eligible employers in the United States. It allows employers to claim a credit against certain employment taxes based on qualified wages paid to employees[3]. The purpose of the ERTC is to incentivize employers to retain their employees during challenging economic times, such as the COVID-19 pandemic[3].
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