The Employee Retention Credit (ERC) serves as a refundable tax credit specifically designed for businesses that maintained their workforce throughout the COVID-19 pandemic. By meeting the eligibility criteria, your business could potentially receive up to $26,000 per employee, spanning across the years 2020 and 2021.
There are two methods by which businesses can be eligible for the ERC:
Our streamlined procedural phases make it simple to understand exactly how we will help you through the ERC claiming process.
With our experience assisting businesses of all sizes across all sectors, we have the knowledge, processes and technology needed to calculate your ERC.
In these ever-changing economic landscapes, securing the financial stability of your business is crucial. That’s why we want to draw your attention to the Employee Retention Credit (ERC), a tax credit meticulously crafted to assist businesses like yours in receiving the rightful refunds you deserve.
The ERC stands as a testament to businesses that persevered through the trials of the COVID-19 pandemic by retaining their workforce. At our CPA firm, we recognize the significance of this credit in bolstering your financial health. By meticulously meeting the eligibility criteria, your business stands the chance to unlock substantial benefits—an impressive potential refund of up to $26,000 per employee, extending across the pivotal years of 2020 and 2021.
The Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay employees while shut down due to the Covid-19 pandemic.
The potential credit available for eligible businesses between 2020 and 2021 is $26,000 per employee.
Eligibility can be determined based on various factors including government orders issued during the pandemic and decline in gross receipts. C9 uses several factors to determine eligibility, ensuring ERC is maximized for your business.
Cloud9 has been assisting businesses with this process since the inception of the C.A.R.E.S. Act, helping our first client in June 2020 and helping 49 other businesses since.
Cloud9 has streamlined this process through the use of 4 procedural phases to ensure the success of your business in obtaining ERC.
Phase 1 – Eligibility Assessment: In this phase, we collect gross receipts, payroll details, and PPP data. We work with your business to discuss the impact of government orders on the operations of your business and provide you with a range of ERC benefits and timing.
Phase 2 – Prepare Tax Forms: In this phase, we prepare amended tax forms and supporting worksheets, co-signing the form as your paid preparer.
Phase 3 – Monitor Status: In this phase, we monitor the status of your tax claim and offer support through communication with the IRS, preventing time delays.
Phase 4 – Bookkeeping: In this phase, we assist your business with bookkeeping entries and provide you with the necessary post-ERC documentation for future IRS audits.
Since the inception of the C.A.R.E.S. ACT, C9 has been assisting clients with ERC and continues to do so. We helped our first client with this in June 2020 and have since helped 49 other companies. Of these 50 companies, all 50 received refunds and Cloud9 has a 0% rejection rate. Between 8 and 10 million dollars has been refunded across these 50 companies since working with Cloud9. Our team of qualified CPAs, who are approved by the IRS, will work on your claim!
Cloud9 C.A.R.E.S.! We have set ourselves apart with our 3 A’s: Advocate, Assist, Advise!
Advocate: Cloud9 will speak with the IRS directly to eliminate time delays.
Assist: Cloud9 will personally work with you to prepare tax forms, file work sheets and aid with your bookkeeping entries.
Advise: Cloud9 will advise you through the ERC process, monitor your claim status, and answer any questions you have.
The IRS has been reminding businesses, tax-exempt groups and others being approached by promoters that they can take simple steps to protect themselves from making an improper Employee Retention Credit claim.
-Work with a trusted tax professional. Eligible employers who need help claiming the credit should work with a trusted tax professional: the IRS urges people not to rely on the advice of those soliciting these credits. Promoters who are marketing this ultimately have vested interest in making money, in many cases they are not looking out for the best interests of those applying.
-Request a detailed worksheet explaining ERC eligibility and computations used to determine the ERC amount.
-Don’t accept a generic document about a government order from a third party. If they say you qualify for ERC based on government order, ask for a copy of the government order. Review it carefully to make sure it applies to your business or organization.
-Don’t apply unless you believe you are legitimately qualified for this credit. Details about the credit are available on IRS.gov, and again a trusted tax professional – not someone promoting the credit – can provide critical professional advice on the ERC.
Our team of qualified CPAs have been approved by the IRS and will work on your claim.
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