Understanding the ERC’s More than Nominal Requirements

At a glance: The main takeaway: The IRS has clarified the definition of “more than nominal” as it relates to partially suspended operations for ERC eligibility, underscoring the importance of a carefully calculated and thoroughly documented credit to mitigate audit risk. Impact to your business: Companies now have a clear benchmark to assess whether they satisfy the…

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How Mixing Family and Business Could Impact Your ERC

At a glance: Don’t risk miscalculating your ERC and facing potential penalties. Contact Aprio’s ERC team to determine whether family attribution rules apply to your business. The full story: Calculating your company’s Employee Retention Credit (ERC) is no easy feat, especially once you factor in how your company’s ownership structure might impact your qualified wages. As…

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It’s Here: The HHS Releases New Provider Relief Fund Guidance on Reporting

At a glance: The main takeaway: The U.S. Department of Health and Human Services (HHS) has released new guidance that sheds some much-needed light on Provider Relief Fund (PRF) reporting requirements. Impact on your business: The HHS’s guidance specifically provides information on PRF usage deadlines and time periods, reporting responsibilities and how to conduct the…

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ERC Update Expands Eligibility to New Startups

At a glance: ERC update: The American Rescue Plan introduced a new group of Eligible Employers, categorized as recovery startup businesses. Expanded eligibility: The expanded criteria helps close the gap for recent startups that were previously ineligible, providing a new means of benefiting from the credit. Next steps: Any companies that started operations in 2020 should reassess their…

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How to Maximize your ERC and R&D Credit Values

At a glance: Don’t undermine your business’s potential benefits or risk non-compliance by failing to strategize your tax credit approach. Aprio can help you create a holistic tax credit strategy that’s always aligned with the latest official guidance. The full story: With potential credit values of up to $33,000 per employee across 2020 and 2021, the…

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3 Ways the New COVID-19 Relief Bill Impacts Your Business

30-Second summary: In addition to providing a new round of stimulus payments, the American Rescue Plan Act contains a host of provisions that will offer financial relief to businesses affected by COVID-19. If eligible, businesses stand to benefit most from the extended Employee Retention Credit, the launch of the Restaurant Revitalization Fund and expanded Provider…

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