Get Ready to Conquer the ERC: Your Filing Prep Guide!

November 16, 2023

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? 

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.

Recommended Reads

No items found.