What you MUST know about the Employee Retention Tax Credit (ERC/ERTC)
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- เผยแพร่เมื่อ 30 ก.ค. 2024
- What you MUST know about the Employee Retention Tax Credit (ERC/ERTC)! Don't use a company until you watch this! (Jamie Rant)
Please Note the IRS Announced in September 2023 that it will not process any more ERC claims in 2023 as they investigate fraudulent claims. You can still file amended payroll returns to claim the credit right now, they just won't be processed at this time. Watch my video here on the update: • ERC update 2023 | Free...
In this eye-opening TH-cam video, join me as we delve into the disturbing world of Employee Retention Tax Credit (ERTC) scams, where unscrupulous businesses prey on hardworking entrepreneurs and small business owners.
This passionate rant exposes the dark side of ERTC abuse, shedding light on how some companies exploit this crucial program intended to help struggling businesses during challenging times.
Discover the shocking tactics employed by these opportunistic entities to take advantage of well-meaning entrepreneurs, leaving them vulnerable to financial risks and legal repercussions.
But it's not all doom and gloom! I'll also discuss essential tips and precautions to safeguard your small business from falling victim to these scams and give you a safe and affordable resource to determine if you qualify, and for how much.
If you're a business owner, an employee, or simply concerned about the fairness of the system, this video is a must-watch! Join the conversation, raise awareness, and empower yourself against these harmful practices.
💰 Determine if you qualify with the $27 ERTC Calculator:
jamietrull.com/ertc
Links mentioned:
IRS Dirty Dozen warning of ERC Scams: www.irs.gov/newsroom/irs-open...
IRS info on ERC: www.irs.gov/coronavirus/emplo...
IRS Form 14242 to report ERC and other tax fraud: www.reginfo.gov/public/do/Dow...
Consult with Kristi Stone CPA, our preferred ERTC vendor (who doesn't charge contingent fees!):
www.stoneandcompanycpas.com/
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**DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor.
Note: There may be affiliate links in this description or video. We do not actively monitor comments on these threads.
You go girl! I used your $27 spreadsheet and with about $300 paid to Kristi Stone, AWESOME CPA of the year! for some online help, I received $445,000 of ERTC money and have all the backup to show I legit qualified for it because I did it myself. This after almost falling for a scam company wanting about $70,000 to do it for me and I wouldn't have had the backup or understand it in order to face any future audit. Thank you, Jamie!
Yeeeeesss!!! These are my favorite stories. This is exactly why I do what I do!!!
Thank you Jamie! I have been scammed and am feeling so taken advantage of. I am going to contact the IRS
Thanks for all your information and integrity. ❤️
This is TOTALLY on the scammers, not on you! Good on you for doing the right thing and turning them in! I'd also love to hear about your experience - if you are compelled, please do write me at support@balancecfo.com and let me know about your situation!
you are amazing. i purchased your spreadsheet. it is great. thank you for your advice
Thank you so much! So happy I can help 😊
Jamie - LOVE your passion on this issue! Around the 22:35 mark, you mentioned the fact that a company receiving an ERTC Refund must amend their business (and likely personal) Income Tax returns to reflect the reduction in wage costs for the periods corresponding to the quarters for which they received refunds. Perhaps you can do a shorter rant/non-rant 🤔 reinforcing this point. Even companies that filed valid ERTC Claims for a Refund via Form 941-X and received Refund checks WILL BE AUDITED FOR SURE if they don't file those amended Income Tax Returns. Perhaps you can slide a few things by the IRS; however, they are pretty good at 'matching up things'. If you received an ERTC Refund check, the IRS WILL MATCH the checks issued for those time periods with corresponding amended Income Tax Returns ... and, btw, you deserve to have WAY MORE SUBSCRIBERS! 😉👏
Thank you so much for the kind words! I think your suggestion is a great idea 👏
Preach sister!!!
Yesss!! 🔥
Its sad what some companies would do get them Jamie get them
I’m not backing down on this! It’s the principle of the matter!
This is replacing the "Your car warranty has expired" as the most irritating phone call to business owners.
Right?!? Feel free to just post a link to this video on any ERTC ads you see ;)
For the scammers, I'll feel a bit of schadenfreude. Unfortunately, the scammers roped in legitimate businesses into their ploy. It'll be interesting to see how this shakes out!
Exactly. So many trusting businesses are getting caught up in this mess!