Created as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), additional recovery legislation has extended and expanded the Employee Retention Tax Credit (ERTC). Eligibility, amount, and availability of the credit depends on many factors, and there is significant confusion in the marketplace about who qualifies.
MGO’s dedicated team of CPAs and advisors focuses on navigating applications, negotiating forgiveness terms, and demonstrating eligibility for federal aid packages. We look at your finances holistically to help determine eligibility, claim credits (proactively or retroactively), and assist with regulatory compliance related to the combination of all aid programs.
Our ERTC services include:
• ERTC Assessment
• ERTC Filing Support
• ERTC Compliance Support
Who can claim the ERTC?
In general, if your company has 500 or fewer
employees, you can qualify.
Recovery Startup Businesses (RSB) and Severely Financially Distressed Employers may also qualify.
Can you claim the ERTC if you’ve received Paycheck Protection Program (PPP) loans?
Yes, but only under certain conditions. Work with a professional to ensure your PPP loan forgiveness does not contradict your ERTC claims.
Will the IRS be examining ERTC claims?
The IRS has extended the statute of limitations on assessing credit claims to five years. That suggests auditors will be taking a close look at companies claiming the credit.
ERTC Assessment
We help you identify qualifying employees and wages so you can determine the value of your ERTC claim.
ERTC Filing Support
You focus on your business’ recovery; we’ll file the appropriate tax forms so your finances quickly reflect the ERTC.
Compliance Support
We help you draft appropriate documentation to support your positions and establish your basis for ERTC qualification.
Clear, actionable insights are often the key to staying ahead of the competition – mitigating risks, maximizing operational performance, fueling sustainable growth.
Discover what our thought leaders are saying about the topics our clients care about most.
While cannabis companies were unable to participate in most government-provided economic recovery packages in the wake of the COVID-19 pandemic, due to…
Under extreme duress and rapid change, many organizations struggle to keep up with demands on their internal finance and accounting units. This is when…
The COVID-19 pandemic has made site visits and inventory testing a serious challenge. Many businesses have been forced to suspend visits from non-essential…
As the excitement of economic recovery continues make sure you don’t forget to take advantage of the programs that were put in place to help through COVID-19.
More financial relief may finally be within reach for organizations suffering from the economic impact of the COVID-19 pandemic…
MGO combines deep industry expertise with proven accounting and advisory solutions to deliver tangible results.
Post-COVID Scalability
Organizations must transitions into a recovery stage, focusing on building business continuity and competitive strength to succeed in the “New Normal”…
PPP Loan Forgiveness
The Paycheck Protection Program (PPP) has allowed many employers to maintain payroll during the COVID-19 pandemic with a completely forgivable principal…
Provider Relief Fund
The Provider Relief Fund (PRF) offers a financial boost at the federal and state level to healthcare providers directly impacted by the coronavirus pandemic…
Every day we are working with businesses, non-profits, state and local government agencies, and other organizations to effectively recover from the COVID-19 pandemic.
How can we help you?
Standing out in a field of largely indistinguishable competitors means we do not have the luxury of evolving with the marketplace. Instead, we work feverishly to keep ahead of it.
