Navigating the ERTC Process

As we continue to recover from the COVID-19 pandemic, many businesses have relied on the Employee Retention Tax Credit (ERTC) to provide financial relief and help retain their valuable employees. As a result, it’s important for businesses to understand the ERTC process to ensure they receive the maximum benefit available. In this blog post, we will provide an overview of the ERTC process, including important dates and contact information for assistance.

Important Dates for the ERTC Amendment Process

If you missed the deadline of February 28, 2023, there will be another opportunity to submit amendments in the 4th quarter. It’s important to note that the deadline for this amendment is November 15, 2023. This means that all documents required for the amendment must be received by November 15, 2023.
(Please note: there will be no additional amendments processed by the PEO until December 31, 2023.)

For further details on how to file your ERTC, please review the following.

1. Addendum to our contract
2. Personal Guaranty
3. ERTC-Year 2020 Attestation Release
4. ERTC-Year 2021 Attestation Release
5. ERTC sample 2020 F941 & Worksheet 1 on the last page of F941 Instructions
6. ERTC sample 2021 F941 & Worksheet 1 on the last page of F941 Instructions
7. ERTC sample Schedule R with the client FEIN “Indicate the Period and Year”
8. Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act
9. ERTC Comparison Chart
10. IES requires a Letter of Certification from your CPA.

In submitting these documents, the client and its owners/officers accept responsibility for any errors or omissions in their calculations; accepting full responsibility for any liabilities, penalties and interest incurred or financial obligations relating to those.

Assistance with the ERTC Amendment Process

If your business has not yet submitted an ERTC request, it’s important to reach out to Shaneekwa Ware at sware@afinida.com for assistance. Our team can provide payroll reports to assist with the application process.

If you have already submitted your paperwork and are looking for an update, please reach out to the PEO accounting team at inquiries@innoworksemployment.com.