Role Of An ERC Specialist: Can They Expedite Your Credit?
by Abdul Aziz Mondal Business Published on: 06 June 2023 Last Updated on: 25 September 2024
Most businesses were affected by the COVID-19 pandemic and some more than others. Several relief programs were put in place to help protect businesses from shutting their doors and going under in the wake of the pandemic. The Employee Retention Credit (ERC) is one such program and it has become so popular that applications are often backlogged. Luckily, an ERC specialist can help expedite the process and get you access to the money you need faster.
An ERC specialist possesses valuable insights into the application and submission process which can be used to avoid potential delays and denials. Working with an ERC specialist means you’ll get access to the money you need without the long, intense wait to see if your application is even approved. Here’s what you need to know about the role of an ERC specialist and how they can help expedite your credit.
What Is The Employee Retention Credit?
The Employee Retention Credit is basically a stimulus program to help bolster businesses that were able to retain their employee base through the pandemic. The program is designed to provide much-needed funding to help those businesses return to normal functions. While it is a wildly popular program, the complicated laws surrounding the program leave it underutilized.
One reason why businesses love the ERC program is that it is not a loan and does not need to be paid back. It can offer a valuable funding source to help bolster operations in the face of obstacles and qualifying is relatively simple. While the qualification guidelines have changed over time, businesses may qualify if they’ve experienced a reduction in revenue or a COVID event.
What Is An ERC Specialist?
An ERC specialist stays up to date with the changing guidelines and policies governing the ERC program. Their experience has given them valuable insight into the way the program works and how to expedite the process. Businesses with complicated payroll structures or multiple locations have a more complex application for the ERC program and can benefit from the valuable experience of an ERC specialist.
An ERC specialist knows what type of missing information can cause delays and exactly which additional information may be necessary to complete the ERC application. Since an ERC specialist stays up to date with program guidelines and changing policies, they help businesses ensure their application meets the most current qualifying criteria to prevent processing delays.
Working with an ERC specialist means a more complete and accurate application and many times expedited claims submissions too. An ERC specialist will often offer audit defense for their clients as well. While audits are rare, they still happen, and it always helps to have an experienced professional on your side.
How An ERC Specialist Helps Expedite Your Claim
An ERC specialist helps guide you through the process of claiming the Employee Retention Credit. They stay up to date with program changes, compliance laws, and even the small details which can lead to an audit. They use their knowledge and expertise to first ensure your business qualifies for the credit. Then an ERC specialist helps you submit a compliant and error-free application along with all necessary supporting documentation to prevent processing delays.
Compliance is key, so an ERC specialist streamlines the application process to save time and unnecessary hassle. They take the time to answer any questions you may have while ensuring you have all pertinent information to keep your business compliant even after your application has been submitted. Working with an ERC specialist helps ensure your business has access to much-needed funds quickly and without legal issues.
Partner With An ERC Specialist Today
The ERC program offers a much-needed lifeline to struggling businesses that desperately need access to funding, but the application process can be complex and confusing. Partnering with an ERC specialist helps simplify the process and streamline your application. They will help ensure your application is complete, error-free, and submitted along with all necessary supporting documentation needed for processing.
If you own and operate a business that is struggling to return to normal after the pandemic, partner with an experienced ERC specialist today. They can help your business gain access to the important funding it needs to stay afloat through the Employee Retention Credit program.
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