Best Tax Preparation Services in Edina, MN

The Employee Retention Credit (“ERC”) is a program created in response to the Covid-19 pandemic and economic shutdown. The program rewards companies with refundable credits (cash) for maintaining their payroll during 2020 and 2021. Qualifying companies can receive up to $26,000 per employee from this program. nnPLEASE BE AWARE. Employers are likely being approached by pop-up ERC service providers and payroll processors looking to make a quick buck. nn1. Many of these fly-by-night ERC providers:n2. Have never dealt with the IRS before, including compliance and audit representation mattersn3. Take aggressive positions with the IRS without their clients’ full understandingn4. Do not seek details regarding the impact caused by Covid-19 governmental ordersn5. Claim IRS guidance is incorrect to support their erroneous positionsn6. Do not address the aggregation rules with respect to multiple entities with common ownershipn7. Do not incorporate the disallowed “double dipping” of PPP-forgiven wages in the ERC calculationsn8. Fail to provide IRS audit defense with their studiesn9. Fail to team with the clients’ CPA or tax advisor on ERC positions, calculations, tax reporting and other mattersnnMAKE SURE YOU DO IT RIGHT! 5 year audit timeframe as the IRS knows people are cheating.nnReach out to us, as we do it correctly!