Employee Retention Tax Credit (ERTC) Overview for US-NGOs, Nonprofits, Faith Organizations, Small-Medium Business with between 5-500 staff. Learn many ways that your organization may qualify, most do! Contact Thomas Malik, ERC Coordinator, 1-908-670-8852, Thomas.Malik.ERC@gmail.com to start the ERC application process.
*** Post Event: Contact Thomas Malik, ERC Coordinator, 1-908-670-8852, Thomas.Malik.ERC@gmail.com to start the ERC application process. ***
Brian S. Pearson, President & CEO of American Investment Advisors is our guest speaker. He will explain The Employee Retention Tax Credit or ERTC, which provides for up to $26,000 in pandemic relief per employee. Your US-NGO, Nonprofit, Faith Organization, or SMB must have had between 5-500 employees on payroll during COVID-19 to be eligible.
The purpose of this event is to explain the various ways that organizations qualify by providing general examples of different kinds of nonprofits, faith organizations, private schools, etc. The focus is on how the pandemic may have created a hindrance to your organization's ability to fulfill its mission and on the ways that COVID-19 possibly disrupted your operations.
Many organizations either do not know about eligibility for the ERTC or think that they do not qualify. The ultimate determination is made by the Internal Revenue Service (IRS). The best way to find out is to work with a firm like American Incentive Advisors (AIA) that specializes in helping organizations to apply for their ERTC.
There is no cost to apply for the ERTC. Most organizations that have successfully applied for ERTC have worked with a company that specializes in completing ERTC applications. The best companies have lawyers on staff who are experts in tax law. Qualifying for the ERTC is more a matter of understanding the related ERTC tax law than having expertise in finance or accounting. This is the advantage of working with AIA.
The ERTC process consists of being assigned a secure drop-box, completing and uploading an ERTC questionnaire, and providing tax, payroll, and healthcare documents on the ERTC checklist. Refer to https://recoveryourcredits.com for the ERTC flyer, checklist, and questionnaire. Once the ERTC documents are uploaded, the AIA tax lawyers review the documents and complete the application and return a mailer to the organization for signature and mailing to the IRS.
The IRS takes a couple of weeks to render a decision and specify the amount of the tax credit. The IRS sends a check to the organization, which may take up to six months. AIA's fee may be paid from the tax credit received. AIA handles any challenges to the application should the reference tax and payroll documents be audited by the IRS for any reason.
Every US-NGO, Nonprofit, Faith Organization, and SMB with 5 to 500 employees can benefit by submitting the ERTC questionnaire and checklist documents to find out their level of potential tax credit. For example, an organization with 10 employees on payroll may qualify for $26,000 per employee for a potential tax credit of $260,000. For 100 employees that becomes $2,600,000.
The biggest mistake organizations make is to erroneously think they do not qualify without checking with experts in tax law who specialize in helping organizations qualify for the ERTC. If someone thinks you do not qualify get a second opinion. The IRS makes the decision. Find out by having AIA help your organization to apply for the ERTC. Working with AIA increases your potential for a maximum tax credit and guarantees legal representation in the unlikely event of an IRS audit of your tax or payroll information.
American Incentive Advisors
American Incentive Advisors
Brian S. Pearson
American Incentive Advisors, LLC
President & CEO
Tuesday, March 21, 2023 6:00 PM – 7:15 PM UTC
Intro to ERTC, Examples
What is the Employee Retirement Tax Credit? Examples of different nonprofits and faith organizations that successfully qualified for ERTC.
ERTC qualifying events, organization impact, business hindrances.
ERTC Process Review
Review of ERTC process, checklist, questionnaire, and next steps.
Q&A and ERTC Summary
ERTC Summary. Questions from Chat may be interspersed during the event.