ERTC: Retroactive Tax Credits for Your Business - Expert Insights and Deadlines

In this podcast episode, host Gene Marks engages with Paychex experts, Erin Lierheimer and Ken Bersani, to shed light on the Employee Retention Tax Credit (ERTC) and its potential impact on businesses. Delve into the details of retroactively claiming credits for losses incurred during the pandemic, as they discuss ERTC qualifications, eligibility, and the timeline. Gain valuable insights on how Paychex can assist businesses throughout the process. Don't miss this chance to uncover the benefits of ERTC and understand how your business can seize this opportunity.

Topics include:

00:00 – Introduction
00:15 – Financing trends for 2023
01:01 – What is the ERTC?
03:15 – Guest introduction
03:51 – Meet Erin Lierheimer
05:39 – Meet Ken Bersani
06:14 – Using a professional for ERTC
07:25 – Can you still obtain the ERTC credit?
07:43 – Retroactive amendments to ERTC
08:09 – How long does it take to get refunds?
08:33 – ERTC timeline and leaving yourself time
11:38 – How Paychex helps with the process
12:09 – ERTC with other loans and credits
15:41 – Qualifications and eligibility for ERTC
15:51 – Full or partial shutdown
19:45 – Decline in gross receipts
22:47 – Recovery startup businesses
25:02 – Key dates
26:07 – Auditing by the IRS
30:51 – Wrap up