The Employee Retention Credit (ERC) was a lifeline for many businesses during the pandemic, providing much-needed financial relief. However, with significant tax breaks come heightened scrutiny for fraud, and the IRS is now casting a watchful eye over ERC claims. So, if you received the employee retention credit, your company may be on the IRS’s radar screen. David Dougherty is a Certified Public Accountant providing ERC Audit Support in Orange City, FL. We serve clients throughout Volusia County, including Daytona Beach, DeBary, DeLand, and Orange City, FL. And Sanford and Lake Mary communities in Seminole County.
Recent reports indicate that an astonishing 90% of ERC claims were paid to businesses that didn’t qualify for the credit. These businesses are now on the hook for paying back the credit to the IRS. The IRS is taking an aggressive approach, stemming from concerns about widespread misuse of the credit. If your business received an ERC, you must prepare for the high probability of an audit, regardless of location. David Dougherty CPA specializes in IRS Audit Support, including ERC Audits, and can guide you through this complex process.
Aiming to recoup potentially misused funds, the IRS is casting a wide net over ERC claims. Many businesses, eager to stay afloat, may have unintentionally made errors or misinterpreted eligibility requirements. Some may even be victims of so-called “ERC mills” that encouraged businesses to apply for the ERC. This has led to a surge in audits leaving business owners scrambling for answers and support.
Navigating an IRS audit alone can be daunting. An experienced tax professional like David Dougherty CPA can provide invaluable support, meticulously assess your ERC claim, ensuring it complies with all IRS regulations and documentation requirements. Our invaluable expertise can bolster your defense and ensure your voice is heard throughout the audit process. We can help you gather necessary documentation, prepare responses to inquiries, and effectively communicate with the IRS on your behalf.
Contact David Dougherty CPA at 386-668-3328 for ERC audit support in Orange City, FL.
This article is for informational purposes only and should not be considered tax advice. Always consult with a qualified tax professional for personalized guidance regarding your specific situation.
