Understanding the IRS's Temporary Moratorium on New ERC Claims and Its Impact on Your Business
Important 2-Minute Read
Did you see the IRS’s announcement that they won’t be processing NEW ERC claims through the remainder of the year? Let us tell you that this is a good thing, and not something to worry about. We are still submitting ERC Applications and we will tell you why in this letter.
The IRS is reinforcing their guidelines to protect you, not to tell you no. Simultaneously they will be using this time until Dec. 31, 2023, to continue catching up on their backlog of “600,000 ERC applications”.
Recently, the IRS published a very important news release. And although a “moratorium on processing new claims through the year’s end” would seem unagreeable to many ERC firms, we think the IRS’s initiative to “add more safeguards to prevent future abuse, protect businesses from predatory tactics” is necessary at this time.
The temporary “moratorium” ordered by the IRS will protect small businesses from being preyed upon by fast-talking ERC companies even when they are not eligible. It paves the way for well-intentioned and compliant firms like ERC guaranteed to provide professional tax services that have your best interest in mind.
From day one, ERC Guaranteed has had a strict process for applying, and that is why we’re the only major firm that has all their work insured by A++ and AA+ Insurance Company for Professional Liability Errors & Omissions insurance. We carefully only consider the strongest qualifications for our clients. The ERC is a complex tax credit and we try to be as conservative as possible so that we are in compliance with all rules and regulations governing this credit. Where other ERC companies refuse to sign the dotted line on your application, we stand by your application and keep our process fully transparent from start to finish
Transparency and Accurancy are the Key to Our 100% Success Rate
All tax professionals are in-house, not outsourced
We sign as your "trusted tax professional" and include our IRS PTIN, we're in it with you.
As an IRS approved e-file tax firm, we have a Centralized Authorization File (CAF) and get electronically notified on your ERC statuses directly from the IRS.
There are no large upfront service fees, but to remain IRS Circular 230 compliant we charge a small $100 amount upfront.
+ You Get a Full ERC Report from Us, Including:
"Eligibility and detailed computations" in IRS accepted format
Explanations of qualifications
The actual timelines
Copies of accurate government orders
Here's the announcements from the IRS if you'd like to read more:
Protecting Taxpayers from Scams Notice
Read Now
Red Flags for ERC Scams IRS Notice
Read Now
ERC Eligibility Checklist
Read Now
There are a few important things to note:
- The IRS is continuing to process previously filed claims
- The hold is only temporary and only on processing new claims. This means you can still apply.
- We are still submitting ERC applications, securing your place in line.
- We are hoping and anticipating that the moratorium will be lifted sooner than December 2023.
What matters most, is that you are comfortable in your decision and practice your due diligence by researching and understanding the articles published by the IRS. Every business owner should make well-informed decisions. When you decide you are ready to file your ERC, we will be here to assist you by making sure your qualifications are supported by the correct government orders.
As always, we are here to support you and answer any questions you may have.
For Business Owners
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Up to $21,000 per W2 employee. We are the fastest to calculate and file - in under 7 days. You can now do both PPP and ERC.
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Our ERC work is insured AND we give it to you in writing!
Professional Liability Errors & Omissions Insurance