Due to receipt of new requests, Impact and Vensure have jointly agreed to open the opportunity to submit tax amendments as it relates to ERTC filings for Q2 - Q4 of 2020. The deadline to submit your company's calculations is August 15th. 

1. Client works with their respective tax professional to determine eligibility for the tax credit(s)
2. Once the client confirms eligibility and/or desires to partake in the respective tax credit(s), client requests, completes and submits the ERTC contract addendum. *Please disregard the previous linked file as the incorrect file was uploaded.
3. Client provides ERTC calculations to Impact by August 15th (clients are advised to partner with their respective tax professional to obtain calculations).
4. Calculations will be submitted for filing to ertc@impactws.com and once the IRS processes the filing, Impact/Vensure will receive the credit directly from the IRS to distribute back to the client. 

• Amount of Credit and for which year(s) and quarter(s) 
• Per the IRS, second admendments cannot be filed until first amendments have been processed. 

Please note, as we want to make sure all clients are aware of the realistic timeline being given by the IRS for this, so that everyone knows what to expect. Once the calculations are provided and the tax team has processed and filed the necessary amendments to the IRS, it will then be in the hands of the IRS. The process can take up to a year for companies to start seeing the credits come through. A couple reasons for this, per the IRS, is that with the number of companies wanting to utilize this credit, the IRS is very delayed and they are also going through the submissions very thoroughly as to prevent fraud as well. Please click here to read a UHY article regarding timing of refunds.