The ERC Might Be Over But There is a Catch!

The infrastructure bill was signed by the President in early November, just a week or so ago, and the employee retention credit took a dive. It was terminated early. The program stopped at the end of September with the third quarter, so the employee retention credit is no longer available for the fourth quarter unless you qualified under the Startup Business rules. So if you qualified under the startup.

Program, you are eligible for that for.

The third and fourth quarter and that is still in effect. So be careful. Don't cheat yourself out of money. If you qualified under those terms, make sure you still get your employee retention credit. But for the rest of you who just were using the regular employee retention credit, unfortunately the program is done. So keep your eye out for any changes. I'm sure we'll still see more changes to the program even though it's terminated. The IRS is finally getting around to processing those 2020amended returns, it seems, and we've seen a pretty large influx of those being processed. So if you're awaiting your money from an amended return, Our returns were filed back in March, so we're finding it's taking about 8 to 9 to get those processed. So keep your eye out. If you have not filed yet for the Employee Retention Credit and you are eligible, it is not too late to apply. You just can't use it in the fourth quarter of 2021. So please reach out. If you haven't applied yet and think.

You may be eligible, we may be.

Able to help you.

I'm Donna Bordeaux from campgroundaccounting.com Please follow us on Facebook and Instagram. Make sure you check out our blog.

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