May 2, 2024

Albuquerque ERC Audit Lawyers

You’re here because you’re facing an ERC audit in Albuquerque, New Mexico. It’s a daunting situation – but take a deep breath. We’ve got your back. At Spodek Law Group, our elite team of tax lawyers specializes in handling complex ERC audits. We leave no stones unturned in our pursuit of the best possible outcome for you.This guide will walk you through everything you need to know about ERC audits in Albuquerque. From understanding the audit process to building a rock-solid defense strategy – we’ve got you covered. Let’s dive in.

What is an ERC Audit?

First things first, let’s demystify the term “ERC audit.” The Employee Retention Credit (ERC) was a lifeline for businesses during the COVID-19 pandemic. It allowed employers to claim a refundable tax credit for retaining employees and keeping operations afloat.However, with the influx of ERC claims, the IRS is now scrutinizing these credits through audits. An ERC audit is an examination by the IRS to verify your eligibility and compliance with the program’s rules.

“Wait, what did you say?” – we get it. Tax jargon can be confusing. But don’t worry, we’ll break it down in simple terms.

Understanding the ERC Audit Process in Albuquerque

Knowledge is power, especially when it comes to navigating the complexities of an ERC audit. Here’s a breakdown of the typical audit process in Albuquerque:

1. Audit Notification: The IRS will send you a letter notifying you of the audit and requesting specific documentation related to your ERC claim.
2. Information Gathering: You’ll need to gather and organize all relevant records, including payroll data, financial statements, and documentation supporting your eligibility for the ERC.
3. Initial Meeting: The IRS auditor will schedule an initial meeting, either in-person or virtual, to discuss your case and request additional information if needed.
4. Audit Examination: The auditor will thoroughly review your documentation and may request further clarification or supporting evidence.
5. Audit Findings: After the examination, the auditor will present their findings, which may include proposed adjustments or disallowances of your ERC claim.
6. Response and Appeals: If you disagree with the audit findings, you have the right to respond and appeal the decision through the appropriate channels.

“Sorry, if that didn’t make sense.” – we know, tax audits can be a maze. That’s why it’s crucial to have an experienced Albuquerque ERC audit lawyer by your side, guiding you through every step.

Building a Solid Defense Strategy

Facing an ERC audit can be daunting, but with the right defense strategy, you can increase your chances of a favorable outcome. Here’s how we approach ERC audit defense at Spodek Law Group:

1. Comprehensive Documentation Review

Our team will conduct a thorough review of all your documentation related to the ERC claim. We’ll identify any potential weaknesses or gaps and work with you to strengthen your case.

2. Eligibility Assessment

We’ll carefully assess your eligibility for the ERC based on the program’s requirements, such as significant gross receipts decline or operational disruptions due to COVID-19 orders.

3. Calculation Verification

Our tax experts will verify the accuracy of your ERC calculations, ensuring that you claimed the correct amount and didn’t inadvertently “double-dip” with other relief programs like the Paycheck Protection Program (PPP).

4. Legal Representation

If needed, our experienced Albuquerque ERC audit lawyers will represent you during meetings with the IRS auditor, advocating for your rights and presenting a compelling case on your behalf.

5. Appeals and Dispute Resolution

In the event of an unfavorable audit outcome, we’ll guide you through the appeals process and explore alternative dispute resolution options to protect your interests.

“There’s one reason you’re on this website: you’re looking for an elite criminal defense law firm.” – and that’s exactly what you’ll find at Spodek Law Group. Our unwavering commitment to our clients sets us apart.

Why Choose Spodek Law Group for Your ERC Audit in Albuquerque?

When it comes to ERC audits in Albuquerque, you need a team of legal professionals who truly understand the complexities involved. Here’s why Spodek Law Group is the right choice:

Extensive ERC Audit Experience

Our attorneys have extensive experience handling ERC audits, staying up-to-date with the latest IRS guidance and regulations. We know the ins and outs of the audit process, giving you a significant advantage.

Personalized Approach

We understand that every case is unique. That’s why we take a personalized approach, tailoring our strategies to your specific circumstances and needs.

Unwavering Commitment

“Most law firms implement a cookie cutter strategy in order to fight your case, and save their own time. They don’t look carefully at your situation – they simply want to move on to the next case. At Spodek Law Group, we leave no stones unturned. We do everything possible to win. Everything we do is focused on getting you results. We understand the difficult and challenges of going through a case. If you’re accused of a crime, schedule a consultation with our criminal attorneys today.”

Nationwide Reach

While based in New York and Los Angeles, our firm handles cases nationwide, including ERC audits in Albuquerque and across New Mexico.

Proven Track Record

Our team has a proven track record of success in handling complex tax matters, including ERC audits. We’ve helped countless businesses navigate these challenges and achieve favorable outcomes.

“Sometimes prosecutors will only be fair if you respond with force to them. Without an attorney advising you, you might accidentally plead guilty when you could’ve won the case. The only way to truly know is to hire a private criminal defense attorney. At Spodek Law Group – we pride ourselves on taking a hands-on approach. It means researching the exact situation surrounding your case, and putting in the leg work to be familiar with every single intimate detail. Our firm has excellent work ethics, and we constantly hold firm meetings in order to discuss and address all of our cases. In the event of an emergency – we have a full team of lawyers available to help you.”

Hypothetical Scenarios: What Could Happen During an ERC Audit?

To better understand the potential challenges you may face during an ERC audit in Albuquerque, let’s explore some hypothetical scenarios:

Scenario 1: Insufficient Documentation

You claimed the ERC based on a significant decline in gross receipts, but during the audit, the IRS finds that your documentation is incomplete or inconsistent. In this case, our team would work to gather additional supporting evidence, such as financial statements, bank records, and industry data, to substantiate your claim.

Scenario 2: Eligibility Challenges

The IRS auditor questions your eligibility for the ERC, arguing that your business operations were not significantly impacted by COVID-19 orders. Our attorneys would thoroughly review the applicable orders and their impact on your operations, presenting a compelling case to demonstrate your eligibility.

Scenario 3: Calculation Errors

During the audit, the IRS identifies errors in your ERC calculations, resulting in an overstated claim amount. Our tax experts would meticulously review your calculations, identify the root cause of the errors, and work to correct them, potentially mitigating any penalties or disallowances.

Scenario 4: Double-Dipping Allegations

The IRS alleges that you improperly claimed the ERC for wages that were already covered by the PPP or other relief programs. Our team would gather documentation to prove that you did not “double-dip” and that your ERC claim was legitimate.

“Regardless of how tough your situation is – we are here to help you. Our criminal defense lawyers work hard to have a solution for you, irrespective of the situation you find yourself in. Many clients are often embarrassed by their situation, and don’t speak openly about their alleged issue. We encourage open dialogue, and recommend full transparency – so we can give you the best possible legal advice.”

Practical Tips for Handling an ERC Audit in Albuquerque

While our team at Spodek Law Group will guide you through the entire process, here are some practical tips to help you navigate an ERC audit in Albuquerque:

1. Respond Promptly: When you receive an audit notification from the IRS, respond promptly and provide the requested information within the specified timeframe.
2. Organize Documentation: Gather and organize all relevant documentation, including payroll records, financial statements, and any evidence supporting your ERC claim.
3. Maintain Open Communication: Keep an open line of communication with the IRS auditor and respond to any additional requests for information in a timely manner.
4. Seek Professional Assistance: Consult with an experienced Albuquerque ERC audit lawyer, like those at Spodek Law Group, to ensure you have proper legal representation and guidance throughout the process.
5. Stay Calm and Cooperative: While audits can be stressful, it’s important to remain calm and cooperative throughout the process. Avoid confrontational behavior or providing incomplete or misleading information.
6. Understand Your Rights: Familiarize yourself with your rights as a taxpayer during an audit, including the right to appeal unfavorable decisions and seek alternative dispute resolution.
7. Consider the Long-Term Impact: An ERC audit can have long-term implications for your business, so it’s crucial to approach it with a strategic mindset and consider the potential consequences of various outcomes.

Albuquerque ERC Audit Lawyers