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In today’s world, consumers are less likely than ever to carry cash. They expect to be able to use credit or debit cards to make purchases, no matter where they happen to be. In short, credit card readers allow merchants to meet customers where they are and allow them to pay with the modern payment methods they increasingly prefer, even in settings that make a full register setup impractical.

While you’re actively driving or delivering, you’re working for what’s known as a Transportation Network Company (i.e., Uber, Lyft, Doordash, Instacart, and so on). Your TNC is required in most cases to provide insurance coverage. While you’re waiting for a job and in between jobs, you need personal auto insurance for your car. But making deliveries or offering rideshares may invalidate your coverage.

If it’s too late for you to withdraw your ERC request, but you know that the request is invalid and that you weren’t actually eligible for the employee retention credit, you may be faced with filing error penalties and/or held responsible for repaying the employee retention credit.

Tax laws vary from state to state, so how the ERC affects your state income tax return is based on where you live. Many states have adopted federal laws for the treatment of ERC for state tax purposes, while others have created their own laws.

An ERC refund refers to the employee retention credit that eligible taxpayers can receive from the IRS, while an ERC loan is a type of advance that some companies offer to give employers faster access to their ERC credit.

The goal of a ghost preparer is to take advantage of taxpayers by taking a large fee or directing the taxpayers return to their own bank account or mailing address without the taxpayer’s knowledge — and then disappear without a trace to secure their fraudulent money can be tracked.

The IRS sends notices to taxpayers when there is a tax return error, to request a payment, to request additional information, or to notify you about a change.
The CP210/CP220 notice is sent by the IRS when there is a change to your tax return. These changes always pertain to the tax year listed on the notice.

An ERC loan is an advanced payment for your pending ERC refund. If your business can’t wait 12+ months for a check from the IRS, an ERC loan can help.

ERC refund, ERC loan, ERC grant. What’s the difference? Which one is right? How do you apply? We’ll walk you through the basics of the Employee Retention Credit (ERC) and how you can take advantage of this unique tax credit.