Employee Retention Credit (ERC) Verification

The ERC Verification Process


The ERC verification process commences with an initial call to understand your company and make a high-level qualification assessment. At this stage, Tri-Merit’s team gathers information related to the parts of your business that you feel were impacted, references to any mandates, and, if applicable, operational details such as gross receipts and detailed product/service line information. Afterward, the team conducts research and presents their findings on what they believe the qualification period to be. In case of discrepancies, they request 941-Xs linked to previous claims to prepare the forms and detailed instructions to submit the corrective filing/withdrawal. Finally, with your approval, Tri-Merit submits an 8821 to the IRS, authorizing them to view transactions on your account to verify any corrective actions are appropriately made.

Mandates & Previous Claims

While it is beneficial to have information on mandates your company followed, Tri-Merit also conducts individual research for each client to apply any relevant mandates. The team will explain why certain mandates do not qualify and cite IRS guidance accordingly. Although they review what was previously filed, their goal is to independently determine the qualification period without any bias from third-party prepared calculations. They focus on reviewing specific government mandates and their application to your company when looking at a partial shutdown qualification. They also will check gross receipts to ensure there is no qualification by that route.

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Discrepancies and Amendments

If the Tri-Merit team has determined that the qualification period differs from what you filed for, they prepare the amended forms and instructions for reversing a previous claim and/or prepare what is required to submit a withdrawal of an open claim. They can also recalculate the credit if there is a partial qualification period in which you are able to retain part of the credit. If you do not have a copy of what was previously filed, Tri-Merit can view online transcripts of the account with the IRS and speak with them to obtain any information needed for the amendment by filling out an 8821 form.

The Final Decision Always Lies with the Client

Tri-Merit provides information and an independent assessment adhering to the IRS guidance as much as possible. At the end of the study, it is the client’s choice based on what was presented whether they want to file any amendments or withdrawals of previous claims.

Tri-Merit stresses that it is never too late to fix a claim that has already been paid. They have assisted clients in paying back credits received that they were not eligible for by making the appropriate amendment and submitting payment for the amount of erroneous credit received.

Through their new service offering, Tri-Merit aims to assist businesses in navigating the complexities of ERC Verification, ensuring accurate filings and peace of mind.

If you’re seeking professional guidance in navigating the complexities of ERC Verification, don’t hesitate to reach out to Tri-Merit today. Their experienced team is ready to help ensure your filings are accurate and compliant.

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