Three Ways a Change in Ownership can Impact ERC Value

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At a glance The main takeaway: Companies involved in an acquisition or disposition during 2020 or 2021 have additional considerations for determining eligibility. Impact on your business: Any acquisition could impact your gross receipts analysis and your eligibility for the ERC. Next steps: Contact Aprio to assess your ERC eligibility and understand the impact any…

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The Next Hurdle in your ERC Claim: Financial Reporting

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At a glance: The main takeaway: Industry experts have recommended using the loss recovery model in response to widespread confusion about reporting the ERC in financial statements. Impact on your business: The loss recovery model means you can report ERC claims sooner and avoids any need to amend previous financial statements, but you must be certain in…

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How to Attract and Retain Talented Employees with a Top Benefits Package

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At a glance: Competition is hot: The labor market is more competitive than ever, as more employees leave their current positions to seek higher-paying, growth-focused opportunities. Stand out in the market: Employers can separate themselves from the crowd and attract the best employees by leveling up their employee benefits packages and perks. Get an expert’s perspective: Partner with…

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Do Owners’ Wages Qualify for the ERC?

At a glance: New ERC guidance: In a Notice released August 4, 2021, pertaining to the ERC, the IRS issued new guidance that will effectively disqualify most wages paid to majority business owners and their spouses. Impact on your business: Any business owners with more than 50% interest in the business and a living relative may need…

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Get Your Top ERC Tax Questions Answered

At a glance The main takeaway: The IRS has released tax guidance regarding the Employee Retention Credit, creating confusion for business owners. Impact on your business: The general rule that an employer’s deduction for qualified wages is reduced by the amount of the employee retention credit — even though the credit won’t be received by employers until…

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Employee Retention Credit: Are U.S.-based Subsidiaries of International Companies Eligible?

At a glance: The main takeaway: With changes passed under the Consolidated Appropriations Act, more businesses are eligible for the Employee Retention Credit, potentially those that are U.S.-based subsidiaries of international companies. Impact on your business: To assess your eligibility, you need to have a solid understanding of the controlled group rules, which can help you identify…

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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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Controlled Groups: What You Need to Know about the ERC

30 Second Summary: Controlled groups can claim the ERC, too, but special rules may impact your eligibility Aggregation rules require members of a controlled group to calculate the ERC as a “single employer.” Contact Aprio’s dedicated ERC team to assess your eligibility and understand the impact your company structure may have on your credit. The Full…

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Breaking Down the Employee Retention Credit

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The Employee Retention Credit (ERC), a payroll tax credit can be worth up to $19,000 per employee, was significantly enhanced with the enactment of the Consolidated Appropriations Act, 2021. The ERC was extended into 2021 and eligibility was expanded to include recipients of Paycheck Protection Program (PPP) loans. Watch the webinar now to learn more…

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