IRS Warning on ERC Claims

The IRS is warning small businesses about “improper” claims for the employee retention tax credit (ERTC). As you know, restaurants were uniquely qualified for the COVID-related ERTC due to partial closure orders and/or revenue declines in 2020 and three calendar quarters of 2021. 

However, the IRS is reporting that some third-party companies are offering bad advice to small businesses regarding eligibility or the estimated value of the ERTC. 

We urge you to closely review the information from the IRS. Click here to see the IRS press release. 

An ERC Company That You Can Rely On 
We at the Wisconsin Restaurant Association know how important it is to be comfortable with the companies that you choose to do business with. Especially when it involves your finances. WRA, along with many of its other state restaurant association partners across the country, has partnered with Adesso Capital to offer ERC filing services. Adesso provides concierge financial services to small and mid-sized businesses. And when the pandemic drove business into a downturn, Adesso assembled a team of tax experts to help businesses maximize the federal COVID relief available to them.

Adesso takes compliance and qualifications very seriously. Adesso also has other guardrails in place to protect their clients. 

1. Their ERC consultants and CPAs are well-versed with changes to IRS and CARES Act regulations and ongoing Guidance.
2. Adesso only submits amended payroll tax returns that cover impacted quarters. They validate the beginning and end-dates for COVID-related Government Orders and maintain a database of these for all 50 States.
3. They appropriately coordinate ERC benefits with other Federal Covid relief, including PPP, RRF, EFMLA, EPSLA, and WOTC benefits, as required by law.
4. All information their CPAs include in filings, particularly concerning a business’ revenue drop, can be backed by verifiable documentation.
5. Adesso stands behind their ERC-Filings with free Audit Protection, standard with every filing, to answer any questions that the IRS may have if audited.

Click here to read Adesso’s statement on the recent IRS warning.
 
Q2 2023 Deadline for Q2 2020 Filing 
Have you claimed your ERC dollars yet?  It not, the first deadline is coming up in Q2 of 2023.  You have until then to amend your Q2 2020 taxes and claim your employee retention credit if you qualify.

We encourage you to sign up for a 10-minute consultation with an Adesso ERC tax expert to see if you have money to claim. So far Adesso has filed for nearly $5 million in ERC dollars in just the past few months for restaurant owners in Wisconsin alone and over $300 million across the country.

Check Today To See If You Qualify for ERC

Want to talk about this first, feel free to reach out to Dawn Faris – 608.444.9481 – dfaris@wirestaurant.org

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