What You Need to Know About the ERC in 2024
The Employee Retention Credit (ERC) has provided significant financial relief for businesses affected by the COVID-19 pandemic. However, as of the end of 2024, we are limited:
–Only 2021 ERC claims can be filed; the window to file for earlier years has closed.
–Refunds are significantly delayed. The IRS is facing a backlog as it puts the claims through a more stringent screening process, and some businesses are waiting 12 months or more for their refunds.
–Increased scrutiny and denials. The IRS is closely reviewing claims, denying many outright—even in cases where businesses believe they qualify.
Despite these challenges, businesses that qualify for 2021 should still pursue their refunds, and those facing IRS challenges or denials should act quickly to protect their claims.
Did the IRS Deny or Partially Deny Your ERC Claim?
If your ERC claim was denied or only partially approved, you’re not alone. The IRS has been issuing denials in what appears to be a haphazard manner, leaving many business owners frustrated and confused.
At Olympia Tax Service, we can help you:
-Review your claim to ensure all qualifications are properly documented.
-Respond to IRS denials or partial denials with the correct supporting evidence.
-Navigate the appeals process if necessary.
Don’t let an IRS denial discourage you. We can help you fight for the refund your business deserves.
Get Help With Your ERC Denial »
Why Choose Olympia Tax Service for ERC Help?
With our expertise in tax law and payroll systems, we’ve helped small businesses maximize their ERC refunds. In the current environment, you need a partner who understands the complexities of ERC audits and appeals and is not from an ERC mill.
Expert Guidance: We stay up to date on the latest IRS rules and procedures.
Detailed Documentation: We’ll help you prepare the right evidence to defend your claim.
IRS Communication: We’ll handle the back-and-forth with the IRS so you don’t have to.
Whether you’re filing for the ERC for the first time or responding to an IRS notice, we’ve got your back.
We are so grateful to Jim and Kayleigh at OlyTax for their assistance in navigating the complicated process of applying for the Employee Retention Tax Credits. As a non-profit organization, we have limited staffing and resources to dig into some of these federal relief programs that have had changing guidelines.
I was very doubtful that we would get much from the program as we had already received two Payroll Protection loans, but figured it was worth the initial fee to find out. I was shocked when OlyTax notified me of the credits we were eligible for through this program!
Carrie,
Washington Center for the Performing Arts
Jim Gerner and the folks at OlyTax did a great job with my ERC. I would have been completely lost without their firm. I didn’t understand what a big deal it was or how large of a return I would get back because of it. They did it quickly, and professionally and I was pleasantly surprised with the results. The price was very fair. The money was used to significantly impact the business in positive ways, including payroll.
Gabrielle
Gabi’s Olympic Cards and Comics