Have you recently heard advertisements for the Employee Retention Credit? Although the advertisements may indicate that you're eligible for a "lucrative tax break," please be cautious. According to Browning at Accounting Today, these fraudulent claims may be one of the largest tax related scams in U.S. history.
It's our job to protect you from scams like this. The process to determine whether your business is eligible for the credit is lengthy and dependent on many factors. Over the last two years, we've been working closely with our clients to determine eligibility. If you believe you may be eligible, we can discuss it with you. However, please be aware that although the advertisements you're hearing may sound promising, it's very possible that you may not qualify.