Dealing with the Employee Retention Credit (ERC) application can be daunting, we know! We want to help demystify the process so you can breeze through it like a pro and get the money you deserve. Our partner Adesso has put together a handy checklist to get you prepared for quick and easy filing.

Here are the data points you’ll need to provide for the IRS to approve your ERC tax credits:

Form 941 - These are your quarterly payroll returns for all quarters Q1 2020 - Q3 2021.

Payroll Information - We need statements that verify payroll or earnings for each pay period that you’re claiming between March 2020 - September 2021. Your statements should include:

• Individual employees pay
• Taxes
• Tips
• Any other benefits paid

Group Healthcare Details - This should be a document showing how much you’ve paid in insurance premiums for employees spanning March 12, 2020 - January 1, 2021.

Gross Receipts - The IRS will want to see quarterly statements from Q1 2019 - Q3 2021 that include your gross income. P&L statements are fine, as well as any other financial statement that shows how much money your business earned during the qualifying periods.

PPP Loan Details - If you’ve received a PPP loan, you’ll need to provide documents that show:

• Disbursement amounts in 2020 or 2021
• Disbursement dates
• Paperwork verifying PPP loan forgiveness (most likely a letter from the SBA)
• Monthly rent and utility bills starting with the month you receive your PPP loan + 5 months after.

Ready to file? 

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Let’s do this! Visit our client portal and take our free quiz!  to learn more and get started today. Our user-friendly ERC portal will walk you through the entire process, ensuring you get the maximum ERC refund possible.

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