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The more you know, the more you grow. The following is a document created by Vivian Bogul who is an Executive Director with Snap Delivered! The content is a transcript from a Podcast with Tony Swanteck the COO of Jornes and Associates.
What it is: Economic stimulus payment
Most Common Misconceptions About ERC
• Did not have a revenue decline.
• Did better during COVID.
• Did not shut down.
• Received PPP Loans (Paycheck Protection Program)
• While these are factors in the process, these do not disqualify you.
Fully or partially suspended operation during any calendar quarter in 2020 and/or 2021 due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19 (includes working from home).
• Revenue sectors showing a decline?
• Gross Receipts Reduction 2020 and 2021 vs. 2019? (Quarterly)
• Additional expenses or costs to the business to deal with COVID?
• Trade Shows & Conferences - gone virtual? Not attended?
• How do you engage with customers and prospects?
• What changes did your business make in response to COVID-19?
• What do you not do now or during COVID that your business used to do?
• How were your office operations impacted?
• How were your warehouse and distribution operations impacted?
• How were your customer-facing operations impacted?
• How were your suppliers and key customers impacted?
Scope of Our Engagement
Provide us with contact information & introductions to your CPA, bookkeeper / controller / payroll
Complete our basic client questionnaire
Provide us with payroll reports from 2019 & 2020.
Provide us with PPP Forgiveness Application. FFCRA, RRF, SVOG.
Provide us original 941 returns from your payroll provider
Coordinate tax items with your CPA firm
Coordinate payroll items with bookkeeper / controller
Document qualification/compliance based on your questionnaire
Calculate Wage Attribution between PPP and ERC
File 941-X amended returns with the IRS
Guarantee and Audit Support
We DO NOT guarantee any specific refund amount until we have payroll data
We DO guarantee that our calculations are accurate
We DO guarantee that our filings with the IRS as a paid-preparer are compliant with program rules and regulations
We DO provide long-term audit support and carry E&O (errors and omissions) insurance coverage with $1 Million limit per claim
Service Fee Structure No financial risk of working with Jorns & Associates; a contingency fee of 20% on amount of credits delivered (See Note 1)
Fully refundable deposit of $2,600 due at signing.
Software-performed calculations eliminate human error
Audit-ready package including compliance services
Note 1: A deposit towards the contingency payment is customarily requested to begin the engagement to ensure client is timely with delivery of required payroll data and 941s. This deposit is subtracted from the amount due when Client receives the tax credit refund check.
This deposit is fully refunded if we cannot submit a claim for any reason whatsoever.
Refundable $2,600 Deposit
Next Steps And Timeline
• Sign the Engagement letter.
• Remit the Fully Refundable Deposit.
• Provide Completed Questionnaire and the Required Documents.
• Revenue Spreadsheet
• Payroll Documents
• PPP Details (Paycheck Protection Program)
• Onboarding Specialist is Assigned to Your File.
• CPAs Prepare Filing Documents.
• Client Review the revised 941x documents.
• Documents Signed and we mail all documentation to the IRS.
• In approximately 14-20 weeks, you will receive your check from the IRS.
• We will invoice you for the remaining balance due after you receive payment.
11,000 Clients served. Our Proprietary Software ensures accuracy. We include 5 Year Audit Protection. 20 CPAS, 400 Staff members work for YOU! Don't settle for quick and easy. We guarantee our work! You will be assigned an onboarding specialist. Our average $ / Employee exceeds others! Maximized your return!