ERTC Gov Reminds American Business Owners About The Impending Deadline For Filing ERTC Claims

ERTC Gov is reminding American businesses of the fast-approaching deadline for ERC (Employee Retention Credit) claims.

Funded as a part of the CARES (Coronavirus Aid, Relief, and Economic Security) Act, the ERTC provides business owners a credit based on the qualified employee wages and health plan expenses they paid after March 12, 2020, and before October 1st, 2021. Despite public perception, it is not a loan and there are no restrictions on what recipients of the credit must use the funds for.

“While the deadline for filing the ERTC claim is right around the corner,” says Mark Sullivan, the spokesperson for ERTC Gov, “there is still plenty of time to get your application started. The instructions for filing Form 941-X are crystal clear. They set the statute of limitations by when the adjustments must be made to the second quarter of 2024. We urge you to go through the documentation yourself to verify this or, better yet, give us a call and we will help you understand the deadlines and start your application.”

The FAQ for Form 941-X answers the question “Is There a Deadline for Filing Form 941-X?” as “Generally, you may correct overreported taxes on a previously filed Form 941 if you file Form 941-X within 3 years of the date Form 941 was filed or 2 years from the date you paid the tax reported on Form 941, whichever is later. You may correct underreported taxes on a previously filed Form 941 if you file Form 941-X within 3 years of the date the Form 941 was filed. We call each of these time frames a “period of limitations.” For purposes of the period of limitations, Forms 941 for a calendar year are considered filed on April 15 of the succeeding year if filed before that date.”

According to ERTC Gov, the last sentence is key for determining the ERTC deadline. The rule is derived from Section 6513 of the Code in which subsection (c) “Return and payment of Social Security taxes and income tax withholding,” includes the rule that, “(1) If a return for any period ending with or within a calendar year is filed before April 15 of the succeeding calendar year, such return shall be considered filed on April 15 of such succeeding calendar year.”

So, while Form 941 for the second quarter of 2020 was originally due on 7/31/2020, the third quarter was due on 10/31/2020, and the fourth quarter was due on 1/31/2021, all those returns are considered filed on 4/15/2021, setting the three-year statute of limitations for amending any of those returns as 4/15/2024. Moreover, the instructions for Form 941-X explain, “any corrections to the employee retention credit for the period from March 13, 2020, through March 31, 2020, should be reported on Form 941‐X filed for the second quarter of 2020.”

“There is a lot of bad information out there about ERTC claims,” says Mark, “especially peddled by hundreds of fly-by-night firms that started offering the service when they realized the scope of the opportunity. In fact, we get inquiries from several business owners who believe they have already missed out on some of the quarters. Thankfully, the deadline for filing the ERTC claim hasn’t yet expired, and applicants can still get all of the benefits they are qualified for. Call us today to find out more about what makes ERTC Gov different and to get started with processing your claim.”

ERTC Gov is the only firm in the nation that offers its clients ERTC claim verification by 3 independent CPAs (Certified Public Accountants). They work together to confirm the accuracy of the claim according to the firm’s stringent standards which ensures that their clients get to maximize the opportunity and claim every dollar due. Moreover, while other ERTC firms shrug off the legal responsibility, at ERTC Gov, the claim is signed by the company’s CPAs.

Readers are urged to visit ERTC Gov’s website to answer 4 simple questions and find out whether they qualify for the ERC program within 20 minutes.