The IRS has recently begun processing Employee Retention Credit (ERC/ERTC) claims again, following a moratorium that started on September 14, 2023. This update brings hope and a sense of relief to many businesses that have been eagerly waiting for their claims to be addressed. Here’s a closer look at the recent developments and what they mean for businesses.
### Recent IRS Announcements
On June 20, 2023, the IRS announced they would be slowly resuming the processing of ERC claims, marking the beginning of the end of the moratorium. This cautious approach was aimed at ensuring the accuracy and integrity of the claims being processed. However, on August 9, 2023, the IRS issued another release stating that the processing of all ERC claims would proceed at a much slower pace than before. This slower pace was necessary to handle the backlog and verify the claims thoroughly.
### Rockerbox’s Efforts and Observations
At Rockerbox, we have been proactive in keeping our clients informed and updated. Our team has been in constant communication with the IRS, seeking updates on the status of previously submitted ERC claims. We understand the critical financial impact these credits can have on businesses, and we strive to expedite the process as much as possible.
From our observations, many of our clients for whom we filed ERC claims in May 2023 or June 2023 have already received their payments. This is a positive sign that the IRS is making progress, albeit slowly. However, it is important to note that we have not seen any clients receive payments for ERC claims filed after July 1, 2023. This indicates that the IRS is still catching up with the backlog and prioritizing earlier submissions.
### What to Do If Your ERC Claim Is Pending
If your business did not use Rockerbox to file your ERC claim initially and you have concerns about your eligibility or the status of your claim, we are here to help. Rockerbox offers a free consultation to discuss your ERC eligibility and guide you through the process. Our expertise in handling ERC claims ensures that you receive accurate advice and support.
### Pathways to Resolve ERC Claims
There are several pathways to resolve an ERC claim, especially if there are doubts about the eligibility of your entity for the credits. Rockerbox can assist you in:
1. **Reviewing the Original Filing:** Ensuring that the claim was filed correctly and all necessary documentation is in place.
2. **Amending the Claim:** If there were errors or omissions in the original filing, we can help amend the claim to reflect accurate information.
3. **Communicating with the IRS:** Our team can liaise with the IRS on your behalf, seeking updates and resolving any issues that may arise.
### Conclusion
The resumption of ERC processing by the IRS is a welcome development for many businesses. While the pace is slower than desired, progress is being made. Rockerbox remains committed to supporting our clients through this process, ensuring they receive the credits they are entitled to. If you have any concerns or questions about your ERC claim, don’t hesitate to reach out to us for a free consultation.
Stay tuned for more updates as we continue to monitor the situation and advocate for our clients.
**Contact Rockerbox Today**
For more information or to schedule a free consultation, please visit our website or call us directly.
*Together, we can navigate the complexities of the ERC and ensure your business receives the support it needs.*