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But first, let’s quickly recap what the ERC is all about. The Employee Retention Credit was a tax credit introduced as part of the CARES Act in 2020, designed to encourage businesses to keep their employees on payroll during the COVID-19 pandemic. Eligible employers could claim a refundable tax credit worth up to $26,000 per employee for 2020 and 2021.
As the pandemic subsided and businesses started recovering, the IRS turned its attention to the billions of dollars paid out in ERC claims. And, let’s be honest – with the program’s complex eligibility rules and the rush to claim credits, it’s no surprise that errors and even fraudulent claims occurred.So, what do you do, if you get hit – with one of these audits? That’s where having the right legal representation comes in.
First things first, let’s demystify the audit process itself. The IRS will typically begin by sending you an Information Document Request (IDR), asking for documentation to support your ERC claim. This could include:
It’s crucial to respond promptly and accurately to these requests, as failing to do so could result in your claim being denied or even penalties. But, take a deep breath – this is where having an experienced ERC audit lawyer can make all the difference.
Navigating an IRS audit is no walk in the park, especially when it comes to the complex ERC rules. An experienced ERC audit lawyer can:
But, not just any lawyer will do – you need a firm with specific expertise in ERC audits and a proven track record of success.
When it comes to ERC audits in Wisconsin, Spodek Law Group is a name you can trust. With a team of seasoned tax attorneys and a deep understanding of the ERC program, they’re uniquely positioned to handle even the most complex audits.Here’s what sets Spodek Law Group apart:
Spodek Law Group has been at the forefront of ERC audits since the program’s inception. Their attorneys have successfully navigated countless audits, ensuring their clients retain the credits they’re entitled to.
While Spodek Law Group has a nationwide presence, they also have a deep understanding of Wisconsin’s tax laws and regulations. This local expertise, combined with their national reach, makes them the perfect choice for businesses across the state.
At Spodek Law Group, every client is treated like family. They pride themselves on providing personalized, white-glove service, ensuring you always have a dedicated team working tirelessly on your case.
With a long history of successful outcomes, Spodek Law Group has earned a reputation as one of the nation’s top tax law firms. Their attorneys have been featured in major media outlets, including the New York Post, Newsweek, and Fox 5 New York, further solidifying their credibility.
Spodek Law Group understands that your future and your business are on the line during an ERC audit. That’s why they approach every case with unwavering commitment, leaving no stones unturned in their pursuit of the best possible outcome for you.
So, what can you expect when you partner with Spodek Law Group for your ERC audit? Here’s a glimpse into their proven process:
Your journey begins with a comprehensive consultation, where the team will review your ERC claim, assess your eligibility, and identify any potential issues or areas of concern.
Next, Spodek Law Group will work closely with you to gather all the necessary documentation to support your claim. Their attorneys will meticulously review these documents, ensuring they’re complete and accurate.
Once the IRS initiates the audit, Spodek Law Group will take the lead, handling all communication and negotiations on your behalf. Their attorneys will be present during any meetings or interviews, ensuring your rights are protected at every step.
If any issues arise during the audit, Spodek Law Group will work tirelessly to resolve them in your favor. Their attorneys will leverage their extensive knowledge of ERC rules and regulations to build a strong case on your behalf.
In the unlikely event that the audit doesn’t go your way, Spodek Law Group will guide you through the appeals process or represent you in court if necessary. Their unwavering commitment to your case means they’ll explore every possible avenue to secure the best outcome.
But don’t just take our word for it – Spodek Law Group’s track record speaks for itself. Here are a few real-life success stories that showcase their expertise in handling ERC audits:
A Wisconsin-based manufacturing company faced an ERC audit after claiming over $1.2 million in credits. The IRS challenged their eligibility, citing insufficient documentation and questioning their claimed gross receipts decline. Spodek Law Group stepped in, meticulously gathering and organizing the necessary financial records and government orders. Their attorneys successfully demonstrated the company’s eligibility, allowing them to retain the full $1.2 million in credits.
A popular restaurant group in Milwaukee claimed the ERC for their multiple locations. However, during the audit, the IRS identified discrepancies in their payroll records and threatened to impose penalties and interest. Spodek Law Group’s attorneys worked closely with the restaurant group’s accountants to reconcile the payroll records and provide a clear audit trail. Their efforts not only allowed the group to keep their ERC credits but also avoided any penalties or interest charges.
A Wisconsin-based nonprofit organization initially missed out on claiming the ERC due to a lack of awareness. When they learned about the program, they sought Spodek Law Group’s assistance in filing retroactive claims. Spodek Law Group’s attorneys carefully reviewed the organization’s eligibility and gathered the necessary documentation to support their claim. Thanks to their efforts, the nonprofit was able to secure substantial retroactive credits, providing much-needed financial relief.
While Spodek Law Group is well-equipped to handle ERC audits, being proactive and prepared can go a long way in ensuring a smooth process. Here are some tips to help you stay audit-ready:
From the outset, it’s crucial to maintain detailed records related to your ERC claim. This includes payroll data, financial statements, government orders, and any other documentation that supports your eligibility.
Periodically review your ERC claim and supporting documentation to identify and address any potential issues or discrepancies. This proactive approach can help you avoid surprises during an actual audit.
The IRS continues to issue guidance and clarifications on the ERC program. Stay informed about any updates or changes that may impact your claim or audit preparedness.
If you’re unsure about any aspect of your ERC claim or audit preparedness, don’t hesitate to seek professional advice from experienced ERC audit lawyers like Spodek Law Group.
The duration of an ERC audit can vary depending on the complexity of your case and the responsiveness of both parties. However, most audits take several months to complete, from the initial document request to the final determination.
While it’s possible to handle an ERC audit without legal representation, it’s generally not recommended. The process is complex, and the consequences of making mistakes can be severe, including the loss of credits and potential penalties.
Legal fees for ERC audit representation can vary depending on the firm, the complexity of your case, and the scope of services required. Spodek Law Group offers transparent pricing and can provide you with a detailed quote after an initial consultation.
If you disagree with the audit findings, you have the right to appeal the decision. Spodek Law Group can guide you through the appeals process and represent you in court if necessary.
The Employee Retention Credit was a temporary program that expired at the end of 2021. However, the IRS may still conduct audits on claims from 2020 and 2021 for several years to come.
Facing an ERC audit can be a daunting experience, but with the right legal representation, you can navigate the process with confidence. Spodek Law Group’s team of seasoned ERC audit lawyers is dedicated to protecting your business and ensuring you retain the credits you’re entitled to.From their extensive experience and local expertise to their unwavering commitment and white-glove service, Spodek Law Group is the partner you need to successfully navigate ERC audits in Wisconsin.
Don’t leave your business’s future to chance – contact Spodek Law Group today and let them be your guide through this complex process. Remember, it’s simple – every single client deserves honesty and white-glove service. With Spodek Law Group, you can rest assured that your case is in the hands of true professionals who will fight tirelessly to protect your interests. Call us today at 212-210-1851 or schedule a free consultation online.
Please feel free to email us any questions regarding services that we may assist you with. You may also contact us by mail, telephone or fax.
