The Employee Retention Credit ended after September 2021, but startup businesses can still claim it for Q3 and Q4. The IRS is processing amended returns with ERC claims in about 8 to 9 months, so eligible businesses should apply now.
Questions this video answers
In early November 2021 (as stated in the discussion).
It stopped at the end of September 2021 (end of Q3 2021).
No — the regular ERC is not available for the fourth quarter of 2021, unless you qualified under the Startup Business rules.
About eight to nine months (from filing to processing, per speakers).
Chapters
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 were 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. We're finding it's taking about eight to.
Nine months 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 Calculated Moves. Please follow us on Facebook, Instagram and Linked. Make sure you check out our blog and our website from the link below. Subscribe to our YouTube channel and hit the bell to be notified when we post. To contact me, email me@donnaalculatedmoves.com.
