Reporting Employee Retention Credit on Form 990
Filing Form 990 requires organizations to follow the book report. The IRS has recently updated their frequently asked...
Understanding the Tax Implications of the Employee Retention Credit
The employee retention credit (ERC) is a refundable tax credit for qualified wages that employers pay to their employees. ...
Can I Still File for Employee Retention Tax Credit?
Companies can no longer pay salaries to be eligible for the employee retention tax credit, but they have until 2024 and,...
Can I Retroactively Apply for the Employee Retention Credit?
Employers can still apply for the Employee Retention Tax Credit (ERTC) retroactively by filing Form 941-X, Employer...
Understanding the Employee Retention Credit and How to Report it on Form 941
The Employee Retention Credit (ERC) is a tax credit available to employers who have seen a reduction in their gross...
The Benefits of the Employee Retention Credit for Employers
Small employers are the biggest beneficiaries of the Employee Retention Credit (ERC) regime. As long as they are...
Who Benefits from the Employee Retention Credit?
The Employee Retention Credit (ERC) is a refundable tax credit under the CARES Act that encourages businesses to keep...
Can Non-Profits Take Advantage of the Employee Retention Credit?
Non-profit organizations are eligible for the Employee Retention Credit (ERC) even if they work with a PEO. This is one...
How Employee Retention Credit Affects PPP Loan Forgiveness
Yes, you can request both the Payroll Protection Program (PPP) loan forgiveness and the Employee Retention Credit (ERC)....
Will the IRS Audit Your Employee Retention Credit Claims?
As expected, despite the extended time that has been granted to the IRS to conduct audits of ERC claims, these audits...
Can You Deduct Employee Retention Credit?
The Employee Retention Credit (ERC) under the CARES Act encourages businesses to keep their employees on their payroll....
Who is Eligible for Employee Retention Credits?
Employers who are looking to take advantage of the employee retention credit (ERC) must meet certain criteria. The ERC...
Will the Employee Retention Credit be Eliminated?
The Employee Retention Credit (ERC) was established by the federal government to provide a refundable payroll tax credit...
How to Record ERTC for Profit Organizations
For-profit organizations can apply for the Employee Retention Tax Credit (ERTC) as a state grant using subfield 958-605...
Qualifying for the Employee Retention Credit (ERC)
The Employee Retention Credit (ERC) is a refundable tax credit established by the federal government to help businesses...
Maximizing Your Employee Retention Credit Benefits
Government rules and regulations can be difficult to understand, and mistakes can be costly when dealing with Uncle Sam....
Will the IRS Audit Employee Retention Credit Claims?
The Internal Revenue Service (IRS) has started to audit the recipients of the Employee Retention Credit (ERC), one of the ...
Everything You Need to Know About Employee Retention Credit
The Employee Retention Credit (ERC) is a federal incentive program designed to encourage businesses to keep their...
Can Self-Employed Get Employee Retention Credit?
The Employee Retention Credit (ERC) is a refundable tax credit established by the Department of the Treasury and the...
Can You Get ERTC and PPP Forgiveness?
One of the most common misconceptions among companies is that they believe they do not qualify for the Employee Retention ...
What Wages are Eligible for the Employee Retention Credit (ERTC)?
The Employee Retention Credit (ERTC) is a refundable tax credit that eligible employers can request to cover certain...
Are Owner Wages Excluded from the Employee Retention Credit (ERC)?
The Employee Retention Credit (ERC) is a tax credit available to employers who have been affected by the COVID-19...
Who is Excluded from the Employee Retention Credit?
The Employee Retention Credit (ERC) is a refundable tax credit that helps struggling employers and landlords....
Is Employee Retention Credit Tax Exempt Income?
These FAQs are not included in the Internal Revenue Bulletin and therefore cannot be relied upon as a legal authority....
Understanding the Employee Retention Credit Filing Deadline
Tax advisors often misstate the rules related to the deadlines for employee retention credit (ERC) applications. It is...
Who Qualifies for the Payroll Retention Credit?
At the end of the quarter, the Employee Retention Credit (ERC) was created under the CARES Act to help companies cover...
Did the Employee Retention Credit Get Extended?
The Employee Retention Credit (ERC) was a refundable tax credit that small businesses could apply for during the COVID-19 ...
Are Self-Employed Eligible for Employee Retention Credit?
In the wake of the coronavirus pandemic, the Department of the Treasury and the Internal Revenue Service (IRS)...
Reporting Capital Gains on Form 990
Organizations that file Form 990 are required to provide detailed reports on funds advised by donors, conservation...
Who is Eligible for the Employee Retention Credit (ERC)?
The Employee Retention Credit (ERC) under the CARES Act is a great way for companies to keep their employees on payroll....
What Qualified Wages are Eligible for the Employee Retention Credit (ERTC)?
The Employee Retention Credit (ERTC) under the CARES Act encourages businesses to keep their employees on payroll. This...
Did the Employee Retention Credit Get Extended?
The Employee Retention Credit (ERC) was a refundable tax credit that small businesses could apply for during the COVID-19 ...
What Does Non-Refundable Tax Credits Exceeding Your Tax Payable Mean?
Taxpayers subtract refundable and non-refundable credits from the taxes they owe. If a refundable credit is greater than...
How to Enter Employee Retention Credit in QuickBooks 941
The employee retention credit (ERC) is a tax credit that eligible businesses can apply for to cover some of their payroll ...
Do Owners Count as Employees for the Employee Retention Credit (ERC)?
Wages paid to people who are family members of the owners by more than 50% are not counted as salaries, according to the...
Are Owners Eligible for Employee Retention Credit?
The owners of an LLC cannot apply for the employee retention credit (ERC) because their salaries come from the company's...
Amending Tax Return for Employee Retention Credit
Do you need to amend your tax return to apply for the Employee Retention Credit (ERC)? The answer is yes. If the...
Accounting for Employee Retention Credit in QuickBooks
The Employee Retention Credit (ERC) is a positive step taken by the government to help employers during the coronavirus...
Claiming Employee Retention Credit in QuickBooks Payroll
Are you a QuickBooks Online (QBO) payroll subscriber and wondering how to implement the employee retention credit (ERC)...
Understanding the Impact of Non-Refundable Tax Credits
Non-refundable tax credits are a type of credit that can be used to reduce the amount of taxes owed, but cannot be used...
Who is Disqualified from the Employee Retention Credit?
When it comes to the Employee Retention Credit (ERC), the percentage of ownership is a key factor. The IRS examines the...
What Industries Qualify for the Employee Retention Tax Credit (ERTC)?
The Employee Retention Tax Credit (ERTC) was created through the Coronavirus Relief, Relief and Economy Act (the CARES...
What Happens to Nonrefundable Credits Exceeding Tax Liability?
Taxpayers subtract credits from the taxes they owe. Refundable credits are paid as a refund if they exceed the amount...
What is the Deadline to Claim the Employee Retention Credit?
Business taxpayers who wish to apply for the Employee Retention Credit (ERTC) with their quarterly returns will need...
Do I Qualify for the Employee Retention Credit (ERC)?
Are you wondering if you qualify for the Employee Retention Credit (ERC)? The answer depends on your gross income and the ...
Who Doesn't Qualify for the Employee Retention Credit (ERTC)?
The Employee Retention Credit (ERTC) is a refundable tax credit that companies can request on qualifying wages, including ...
Reporting Employee Retention Credit on 1120s: A Comprehensive Guide
The Employee Retention Credit (ERC) is a tax credit available to employers affected by the COVID-19 pandemic. According...
How Does the Employee Retention Credit Affect PPP Loan Forgiveness?
Customers who received a Paycheck Protection Program (PPP) loan during the first wave of aid were previously unable to...
Claiming Employee Retention Credit on Form 941
Form 941 is the form used by employers to declare Social Security and Medicare income and taxes withheld from employee...
Do Owners and Spouses Qualify for Employee Retention Credit?
The Employee Retention Credit (ERC) was created during the pandemic to provide companies with some payroll tax relief and ...
Are Owners and Spouses Eligible for the Employee Retention Credit (ERC)?
The IRS has recently released official guidance on the eligibility of salaries paid to business owners and their spouses...
How to Record Employee Retention Credit in Financial Statements
When registering the employee retention credit, it must be recorded as a credit to grant income and as a debit for...
How to Calculate Employees for the Employee Retention Credit
The Employee Retention Credit (ERC) was created to reward eligible employers for retaining their employees during...
Can S Corp Owner Wages Qualify for the Employee Retention Credit?
Most of the salaries of the majority owners of S corporations do not qualify for the Employee Retention Credit (ERC), but ...
What Happens to the Nonrefundable Portion of the Employee Retention Credit?
If the credit is non-refundable and exceeds the tax burden, you will not be able to benefit from it in a recovery...
Understanding the Employee Retention Credit and How to Record it in Financial Statements
When registering the employee retention credit, it must be recorded as a credit to grant income and as a debit for...
How to Record Employee Retention Credit Refund in QuickBooks
Are you wondering how to implement the Employee Retention Credit (ERC) in QuickBooks Online? As a subscriber to the...
