1.) PPP and ERC were introduced by:
2.) When first Introduced companies were not allowed to utilize PPP and ERC together. They had to choose one program or the other:
3.) This December 2020 legislation amended the rule that companies could only utilize either PPP or ERC and made it possible to take advantage of both programs:
4.) ERC can be worth up to:
5.) Many businesses and even their CPAs believe incorrectly that a company won't qualify due to their overall revenue increasing.
6.) The three tests to determine if a company will qualify for the ERC Program even if they only pass one of the 3 tests are:
7.) A Partial Shutdown can entail: A more than nominal effect to a more than nominal portion of the operation due to local, state, or Federal governmental orders.
8.) Governmental Orders can directly partially shutdown or indirectly partially shutdown business operations.
9.) Lawful governmental orders level of enforcement is reviewed by the IRS to determine if an order actually had an impact on business operations.
10.) If a client wants to move forward with Jorns they should:
11.) The 20% contingency fee is not due until:
12.) With 87,000 new IRS agents coming over the next few years it is a good idea to have a specialty CPA firm like Jorns & Associates handle the ERC filing for a business.
13.) Jorns has hundreds on staff to assist clients through the filing process and a Jorns filing CPA will always be the last signature on the filing before it is mailed to the IRS.
14.) It is almost always worth moving forward with the process to have a specialty CPA firm like Jorns & Associates dig in to see if a company qualifies for the ERC Program.