In this episode, the Huddle Guys talk about the Employee Retention Credit (ERC). The CARES Act provides a refundable tax credit against the employer portion of the Social Security tax equal to a percentage of wages paid, if eligibility requirements are met.
ERC has become a hot topic that may draw scrutiny from the IRS for business owners. Beware of scams popping up related to ERC, in the form of internet and radio ads, and robocalls. (The Huddle Guys play an actual robocall during this episode.)
Listen as the Huddle Guys discuss ways to qualify for the ERC. While you must show economic impact caused by the pandemic and possibly related supply chain issues, that may not be enough to qualify. You must be able to prove a direct tie to a government order.
Let the Huddle Guys be your information source; don’t be a victim of an ERC scam.
And no CPA Huddle episode is complete without some fun with the guys. They are in full NBA Finals mode, and Eric gives us a glimpse of his pseudo previous modeling career! It’s time to Huddle Up!
