2023 Employee Retention Credit Fast Refund: 2020 & 2021 ERC Eligibility Expands
ERCBolt now offers faster claim and refund processing support to help small businesses expedite their Employee Retention Tax Credit (ERC) claim.
More details can be found at https://ercbolt.com/
This new rapid refund option was released in response to the IRS backlog, which can leave businesses waiting for their refunds for 5-9 months. With this new program, companies can receive refunds as early as six weeks.
The ERC is a refundable tax credit that does not need to be repaid. Congress created the program in 2020 as part of the CARES Act to benefit small businesses affected by the shutdowns that began in 2020. Small businesses can claim up to $26000 per employee in tax credit, which will help recoup losses sustained during that time.
Businesses are eligible for the refunds if they experienced revenue decline, shutdowns, supply chain disturbances, gathering limits, or other commercial disruptions during the 2020 financial year or the first three quarters of 2021.
ERCBolt representatives analyze payroll returns to ensure that businesses receive the maximum possible refund credit and are well-supported with a dedicated rep to move them through the process.
Importantly, ERCBolt is also highly focused on compliance and has three separate accounting teams checking documents before submission. Should the tax forms be audited by the IRS, ERCBolt is responsible for addressing questions and requests. To date, however, ERCBolt has yet to be audited.
ERCBolt, based in Delaware, takes pride in supporting small businesses. As of the time of writing, they have submitted more than 10,000 tax claims for more than 8,000 enrolled businesses and collected more than $1.15 Billion in returns for business owners. The average value of tax credit claimed is about $150,000.
According to a company spokesperson, “Our team of US-Based CPA partners is dedicated solely to ERC and places a strict emphasis on compliance. In addition, our financial partner can pay you your rebate in advance for an additional fee, so you don’t have to wait 6-8 months for the IRS.”
Interested parties can can an instant estimate by visiting https://ercbolt.com/
300 Delaware Ave
Ste 210 #575