The COVID-19 payroll relief bill has paved the way for businesses to claim millions in refundable tax credits through the Employee Retention Credit (ERC). However, a common trend we've noticed is the hesitancy among many businesses, including CFOs, to apply, often stemming from misconceptions about eligibility.

At The Jones Law Firm, we've successfully assisted a diverse range of businesses, from manufacturers to service providers, in claiming anywhere from $20,000 to $4 million in cash refund checks from the ERC. Many of these businesses initially believed they didn't qualify due to a superficial assessment of their COVID-19 related challenges.

Let’s debunk three prevalent misconceptions:

1. “My business doesn’t qualify if our revenue stayed stable.”

Contrary to this belief, a decline in revenue isn’t a prerequisite for ERC eligibility. If government mandates impacted even a “nominal portion” (just 10%) of your operations, you might still qualify. We’ve guided businesses through this, like a manufacturing company which qualified based on social distancing impairments in their warehouse, resulting in over $3 million in refunds.

2. “We remained operational, so we don’t qualify.”

Staying open doesn’t negate your eligibility. Whether parts of your business were affected, like a restaurant transitioning to only takeout, or you experienced a considerable decline in gross receipts compared to 2019, your business might still be eligible for the credit.

3. “Receiving PPP means I’m not eligible for ERC.”

This misconception arises from evolving IRS regulations. The expansions in 2021 allowed businesses with PPP loans to retroactively claim the ERC, providing an additional avenue for support.

If your business faced challenges due to COVID-19 mandates at any level, it’s worth exploring your eligibility for the Employee Retention Credit with a specialized firm like ours. We've generated millions in refunds for various sectors, proving that with the right guidance, your business can also benefit significantly.

Why Choose The Jones Law Firm?

Navigating the complexities of ERC can be daunting, but with The Jones Law Firm, you’re in capable hands. We specialize in assessing all possible avenues of eligibility and ensuring you’re not leaving any money on the table.

Click here and explore more FAQs to kickstart the process with us.

Connect with Our Specialists Today!

Don’t let misconceptions steer you away from the financial relief your business deserves. Reach out to our team of tax credit specialists at The Jones Law Firm to learn more about how we can assist you in claiming your ERC benefit and bolstering your business’ financial future.