COVID-19 and the restrictions that the government put on a lot of countries have hit all of us very hard. Employees had to have their pay reduced or paid through the business’s expenses because of the decrease in sales and income and the inability to give them their right amount.
With the help of an ERC tax credit specialist like Spider ERC, you can regain your revenue with the goal of restoring your business’ financial standing.
Continue reading this article to find out what an ERC is and how much help a specialist can provide to process this claim.
What Do ERC Tax Credit Specialists Do?
ERC tax credit specialists help businesses with the CARES Act, also known as The Coronavirus Aid, Relief, and Economic Security Act. This Act falls under the U.S. Congress, where businesses can receive financial aid from the government.
The CARES Act is a $2.2 trillion economic bill signed into law by President Donald Trump on March 27th of the year 2020, when the pandemic peaked and caused the economy to fall.
Suppose the businesses in question have been affected by the Coronavirus or similar situations in any way, and a revenue decrease has occurred during the time period. In that case, they can appeal with an ERC tax credit specialist.
If your business kept employees on the payroll for 2020 and or 2021, and your revenue went down and had been affected by pandemic restrictions set by the government, you are eligible to become a beneficiary of refunded credit.
How Long Does The Process Take With A ERC Tax Credit Specialist?
The exact timeframe it would take an ERC tax credit specialist to accomplish the process is difficult to determine because it operates in two parts, with one having the possibility of taking longer than the other.
The first process involves gathering all the necessary documents you must give to the ERC specialist, which then goes into a claim that takes around 10 business days.
The second process is the part that takes longer because after you have signed and authorized its ability to be sent, as well as the specialist, it is forwarded to the IRS for approval. This phase can take around four months (6-8 weeks) to process ERC returns.
Luckily, some agencies specializing in ERC claims, such as Spider ERC, do not require an upfront payment. You will only have to settle their professional fees once you have received the credit completely.
The best part about the services these companies provide is they will thoroughly monitor your claim status- making the overall process less stressful on your end.
Are ERC Tax Credit Specialists Legit?
Sometimes people believe that ERC tax credit specialists seem too good to be true, but you’ll be happy to know that these services are legit and aren’t a scam.
You can be sure that the specialist is legit if they follow through and have knowledge of the CARES Act, which was created to help America and its businesses recover from when the Covid-19 pandemic hit.
Of course, it would help tremendously to conduct a thorough research about the agency that you want to tap into for help. Only make transactions with reliable people with proof to show they are legitimate businesses that can help with your ERC claim.
The money you receive isn’t free, as you are eligible to receive every cent of it, despite how much you may seem to receive. As long as you kept your employees on payroll during the harshest months of COVID, or if your revenue went down, you are entitled to this credit.
If you’re the type of business affected by COVID-19 or experienced a decrease in revenue during the pandemic, then hiring an ERC tax credit specialist could help you extremely to receive this financial aid.
Seeking the help of professionals would alleviate all worries you might have about processing the claim and ensure that the process will be as smooth-sailing as possible.