Though the Employee Retention Credit (ERC) was designed to help businesses like yours during the COVID era, it’s turned out to be a big problem for the IRS. And they’re cracking down on wrongful claims. So, what happens if you submit a bad claim and the IRS comes at you with an audit? How will you fix it and avoid paying the serious consequences of improper filing?

Join ProMarketer Podcast host, Christian Jones, and special guest, Catherine Tindall*, CPA, founder of Dominion Enterprise Services (DES) as they discuss the essential due diligence needed to keep your clients compliant and avoid potential pitfalls with the ERC. 

*Catherine Tindall, CPA, saw the issues with the ERC from the get-go, and has worked to develop tools for tax professionals to help their clients get back into compliant positions with the IRS. Her expertise has been featured by Intuit and the Journal of Accountancy, and she has had over 16,000 professionals attend her continuing education seminars.

More from Catherine

• Escape the Coming ERC Nightmare: Tax Pros & CFOs Due Diligence on Third-Party Claims (1hr CPE course on Earmark)
• Catherine’s CPA Academy webinars
• Tools for navigating the ERC: 
  • Revenue Testing Tool helps determine eligibility for the ERC for your clients
  • Due Diligence Checklist helps you to spot check for common issues when filing.

 

Highlights

– One of the biggest issues with this program is that there is a long feedback loop between when you do filings and when the IRS gets involved. More and more, we’re going to start to see some intense audits pick up and a lot of disallowed credits.

– It is important to know what to do with the ERC and have the conversation with your clients before they end up in a difficult situation with the IRS.

– Not only can you catch situations where your client was ineligible for the credit, but you may find yourself with a client who was actually eligible for more, and you can help them claim it.

This episode is brought to you by TaxProMarketer, a leading marketing agency serving CPA & tax firms. It was established in May of 2007 in response to increased demand for real-world, relationship-building (and profit-producing) marketing tools for use in the tax and accounting industry.

Currently, TaxProMarketer serves clients all across the United States and Canada who use their services to build relationships with their prospects & existing clients, as well as to grow the value of their business (for immediate cashflow and future sale-ability) by utilizing the following tools: a relational email marketing program, social media feed program, local listings management & optimization, and creating full “online marketing machines” for clients (which include SEO-optimized, conversion-centric custom websites).

TaxProMarketer is a Keap Certified Partner and a Digital Marketer Certified Agency.