DESCRIPTION
The Employee Retention Credit (ERC) is a refundable credit that could be worth tens of thousands of dollars to small businesses that need the money. The Employee Retention Credit was added to the law by the CARES Act in March 2020. Since then, it has gone through multiple changes. Then, it was repealed retroactively by the Infrastructure Act of 2021. But what does all that mean for your clients? The ERC rules were subject to substantial ebb and flow, but many businesses still may qualify and don’t even know it.
This webinar provides details of the history of the ERC, who qualifies and what you can do now to help small businesses take advantage of what might be a substantial cash refund from the IRS.
Topics will include:
- Legislative background of the ERC
- Evolution of the ERC
- Examination of what businesses qualify for ERC
- Determining specific qualifications
- Calculating the credit amount
- Interaction between ERC and PPP loans
- Potential effect on businesses of ERC repeal
- Potential ERC audits and related penalties
Learning Objectives:
- Understanding which businesses qualify
- Charting the changes to ERC rules
- How to claim the ERC
- Identifying audit risks with ERC claims
Who Will Benefit:
- CPA's
- CFOs
- Tax Managers/Tax Professionals
- Tax Attorneys
- Accountants
- Tax Compliance Managers/Compliance Officers
- Bank Managers
- Information Reporting Officers
- Controllers
- Auditors
- Risk Managers
Thecpeeducator is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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