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The End of ERTC? (Employee Retention Tax Credit) [E084] - Business By The Numbers

The End of ERTC? (Employee Retention Tax Credit) [E084] - Business By The Numbers

FromRemarkable Results Radio Podcast


The End of ERTC? (Employee Retention Tax Credit) [E084] - Business By The Numbers

FromRemarkable Results Radio Podcast

ratings:
Length:
36 minutes
Released:
Sep 21, 2023
Format:
Podcast episode

Description

The ERTC (Employee Retention Tax Credit) is something Hunt has talked about in the past (See Episode 10 and 33) but this week, he wants to discuss the current status of the IRS with regard to auditing and follow-up on businesses that have claimed this credit, such as:IRS is upping their fines if you don't disclose all funds, even the legit ones.IRS amnesty programs: From a simple "Hey, I've got this account" to "I owe you, let's settle."The IRS usually has three years to ask for back taxes, but some exceptions exist. If you've taken the ERTC money, there's a two-year period where the IRS might have you on their radar. Bigger amounts = more attention.The ERTC program's end is in sight, with some parts set to phase out soon.Want more details? Click here: https://www.irs.gov/newsroom/to-protect-taxpayers-from-scams-irs-orders-immediate-stop-to-new-employee-retention-credit-processing-amid-surge-of-questionable-claims-concerns-from-tax-prosThanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.comIt’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network
Released:
Sep 21, 2023
Format:
Podcast episode

Titles in the series (100)

Ever wonder what differentiates successful businesses, especially in the automotive aftermarket? Do you have a strong interest in great leadership, business strategies, and the desire to uncover just how successful business people achieved or executed their success? Remarkable Results Podcast is for you. The podcast will interview successful automotive aftermarket professional service entrepreneurs and hear about their business success story. The show will also interview leaders from distribution and manufacturing. Listen to Learn, each week, and strive to take just one thing away with you … One thing that sparked an idea or action within you, that you can implement or pass on. The stories you’ll hear from our guests will show that Remarkable Results comes in many forms and fashions, some instant and many more disguised as daily challenges that were overcome.