By Deborah Bostock-Kelley
Imagine after your business struggled to stay afloat through the pandemic, you are slowly recovering. It hasn’t been easy, but you’ve done everything possible to keep your doors open. On this particular day, you go out to the mailbox, and an envelope from the IRS is waiting for you. With bated breath and a silent plea, you tear open the envelope to reveal a check and the answer to your prayers.
If something sounds too good to be true, it usually is correct to trust your instincts. If someone said your business could get money back from the IRS because of the pandemic, you might shake your head or roll your eyes. However, this is no fallacy, just a little-known Employee Retention Credit Program, and Emerge180 is leading the charge in getting their clients’ real money – not future credits against taxes – but actual checks from the IRS.
Your business could qualify if you suffered a gross revenue drop or faced limited ability to operate due to a government order and opened before December 31, 2020. You must have under 500 full-time employees that receive W2 wages; 1099 independent contractors are ineligible.
If you responded yes to these requirements, you might be eligible to participate in the government’s best-kept secret, the Employee Retention Credit Program, even if you took advantage of the PPP loan program.
If you were forced to choose between paying businesses taxes or keeping your employees on payroll and your doors open in 2020, this program could even be used to wipe out tax debt.
Jonathan Field, president of Emerge180, stressed that this program is open to any type of business and industry. From yoga studios, salons, daycare, restaurants, auto repair, churches, private schools to medical and dental practices and law firms, chiropractors, and many in the hospitality field, your business simply needs to meet the eligibility criteria to apply.
“I literally had a client so excited call me up because he got a check for 1.86 million dollars through this program. It was the difference between being able to continue on or not being able to make it.”
And there’s no up-front cost. Payment is received only after you have your IRS check in hand.
“You need to be licensed tax professionals, which we are, to understand this. We have a team of dedicated professionals working on this program every day,” he said. “We’ve had clients receive over two and half million dollars, and there’s more coming every single day. This is money that they can use for their business to keep it going, to reimburse themselves or their employees from throughout this pandemic. I can’t stress how important this program is, and no one is talking about it, or when they do, there’s a lot of misinformation and misunderstanding about the program.”
Emerge 180 accepts walk-in appointments, has a dedicated phone line set up for specifically ERC program inquiries, an online calendar for appointment bookings, and a resource center that provides webinars about the Employee Retention Credit Program.
If you answered yes to the three qualifiers, you could receive a refund of $5000 per employee in 2020 and $28,000 per employee in 2021.
Jonathan said, “We’re with our clients throughout the process. Each company goes through a specific eligibility review with a tax attorney. They will know not only what they are eligible for but the timeframe. It’s that level of knowledge and expertise that goes into every single client. Because we are dealing with the IRS and payroll data, we’ve also built one of the most ultra-secure integrated platforms for our client’s information. We’re very conscientious of that as well. We’ve been doing this for several months now, leading on this program locally and nationally. We’ve learned all the nuances that are necessary for a business to take advantage of them. Not only are we ensuring that the client is accurate on their eligibility, but we’re also able to complete all of the IRS forms and all of the supporting documentation.”
Because of their vast historical tax experience, Emerge 180 has an excellent follow-up process in place with the IRS.
“We’re checking on the status, so we know whether or not it’s been assigned to a specific individual for processing,” he said. “We are with you from start to finish. From the day you sign up with us to the day you get all that money, and afterward if the IRS has additional questions. We have the team and the built-in knowledge to do that.”
The timeframe averages two to three weeks from sitting down with an Emerge 180 professional and signing up to your application submission to the IRS.
The IRS portion of the process ranges from six months, and at the longest wait time, nine months.
“I get so excited talking about this program because it is in such alignment with the core values of Emerge 180. With everything that has happened to small businesses over the past 16 months, we look at it as our mission to do everything possible to impact the small business community in a positive way.”
To learn more about Emerge180 and the Employee Retention Credit Program, visit emerge180.com and schedule your consultation or call 813-803-5300. Emerge 180 is located at 13902 N. Dale Mabry Hwy, Suite 225.