Congratulations 🎉
We received your request.
What Happens Now? Follow these two simple steps below.
STEP 2
Submit Client Agreement
We're excited to help you. It’s always a pleasure to educate companies about the Employee Retention Credit program. The government is sending out trillions of dollars in relief, and we are excited to help you receive the funds that are earmarked for companies like yours.
If you would like to move forward, simply click the button to receive an e-signature request for the Top Notch ERC Client Agreement. The link will prompt you to enter an email address for the person signing the agreement, so they can enter in their information accordingly.
STEP 3
Upload Your Documents
Upon receiving the signed client agreement, our enrollment team will reach out to follow up with you. The documents required by the IRS for approval are listed in the email, and our team will reach out to assist you and your bookkeeper with the document submissions.
Required Documents
- 941 Quarterly Tax Forms for 2020 and 2021
- Quarterly Payroll Reports for years 2021 and 2021
- Payroll Reports for years 2020 and 2021
- Profit and loss statements for 2019 2020 and 2021
- PPP Loan documents and information (If applicable)
- PPP Quarterly Breakdown Summary (See separate email)
Upload your documents
To quickly assess your eligibility, use this form to upload your documents or check your email for your custom upload link.
FAQ
No. This is not a loan. It’s a refundable tax credit. When we file your ERC claim, we request a refund check for you.
This is not a lending program – tax refunds are issued by the US Treasury. Therefore, all eligible employers will receive the funds.
Yes! There are two possible qualifications for 2020: revenue reduction, or a “full or partial shutdown of your business due to COVID-19”. Specifically, the IRS describes this as “A government authority requires partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.” Below are several examples of qualifying events:
Example 1: A restaurant must close or limit its on-site dining. Such as having to close down every other table, due to COVID-19 restrictions.
Example 2: A business that needs to meet with clients in person and has to cancel meetings due to COVID-19 restrictions.
Example 3: A business has to reduce their operating hours because of COVID-19 restrictions and cleaning requirements.
Example 4: A business had delayed production timelines caused by supply chain disruptions.
Example 5: A business with a planned event has to cancel that event, or restrict the number of people who can attend due to COVID-19 restrictions.
Yes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, modified the ERC credit rules. One of the modifications included allowing a company to have a PPP loan and still take advantage of the ERC credit. However, you can’t use the same dollar for dollar funds. We take this into account when processing your ERC credit.
The ERC credit is not considered income for federal income tax purposes, but you must reduce any deductible wage expenses by the amount of the credit. Please provide the credit information to your CPA for tax purposes.
No, if you are the majority owner (over 50%) of your company, then your wages do not qualify.
Maybe. Wages of owners who have majority ownership, defined as over 50%, do not qualify, nor do the W2 wages of any immediate family members of the owner. In the case an owner has less than 50% ownership, their W2 wages qualify, as do the W2 wages paid to immediate family members.
The challenge is the ERC credit is taken on your payroll returns and not through your business income tax returns, which is what most CPA’s handle. Because of this, most CPA’s don’t process this credit, unless they process your payroll in house. This is also a big reason why this credit is so underutilized. Since CPA’s don’t typically handle it, and they are the tax experts, it has mostly fallen in a middle ground where few can effectively process the credit. Interestingly, we receive a large portion of our clients from CPA’s.
We have decades of payroll experience, which has allowed us to specifically focus on understanding and maximizing the ERC program. In our experience, we have found that due to the complexity (the ERC tax code is over 200 pages) and time investment necessary to understand the ERC program, very few can effectively maximize this sizeable credit for your business.
TOP Notch ERC, LLC DOES NOT provide any legal or accounting advice, and users of this website should consult with their own lawyer and C.P.A. for legal and accounting advice.
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