I get mail.
“I’m a tax accountant. No one talks about the ERC but its the most outrageous tax benefit I’ve ever seen. Easy to qualify and subsidy of 7K per employee per quarter. Its insanity. Clients getting 600K a quarter.”
“I’m a tax accountant. No one talks about the ERC but its the most outrageous tax benefit I’ve ever seen. Easy to qualify and subsidy of 7K per employee per quarter. Its insanity. Clients getting 600K a quarter.”
“And if you got the last PPP, you’re automatically eligible for ERC for 2 quarters. All they gotta do is play with the coverage period and wage costs.”
“Last thing - the easiest one to qualify have been hedge funds cause they move around fees for 2 quarters in 2021 and now you got a full year of eligibility. 30 employees * 7K * 4Q; easiest 840K they ever made. And treasury made this a priority to pay over legit refund claims.”
“Outrageous. But I tell clients, I’m not the idiots who wrote this law. They broadened the ERC in late 2020. Before that, it was a worthless benefit. It was that change by Trump admin and then extended by Biden administration which opened the floodgates.”
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