September 29, 2023
Business Insider News Feature
Corporate Strategies Offers Guidance in Navigating the Newly Announced IRS Heightened ERC Audit Landscape
Corporate Strategies, a leading financial firm in alternative funding sources, is stepping up to guide businesses in navigating the complexities of the Employee Retention Credit (ERC) Payroll Tax Refund, especially amidst the IRS’s heightened scrutiny.
Houston, TX, Texas, United States – Tim Connolly, CEO of Corporate Strategies, underscores the importance of being audit-ready.
“The ‘IRS Notice 2021-20’ is not just a document; it’s a roadmap for businesses to ensure they are protected during potential future audits,”
“Proper adherence to this notice is crucial to avoid penalties and interest assessments on the ERC tax refund claim.” Every one of our clients receives this notice as the most important tool available to be audit-ready in the event of any IRS audit or review.
The Corporate Strategies team led by a former Arthur Anderson tax auditor, along with Tax Lawyer/CPAs, delves deep into the intricacies of the ERC Payroll Tax Refund. The company emphasizes the significance of the “IRS Notice 2021-20” as a vital guide for audit protection. This IRS notice serves as a document retention guide for establishing ERC eligibility, ensuring clients are well-equipped to defend their ERC refund.
Corporate Strategies demands firm documentation as the backbone of of ERC eligibility compliance. “
Employers must diligently provide us and retain specific records demonstrating their eligibility for ERCs. This isn’t just about obtaining a refund; it’s about ensuring businesses can confidently stand by their claims,”
“Our goal is to assure our clients that with the compliant ERC required documentation, they are audit-ready and audit-fearless.”
Connolly further elaborated that it is not just about qualifying for the ERC but about being prepared for what comes after. With the IRS emphasizing documentation, Corporate Strategies guides businesses on what to keep, how to keep it, and for how long.
IRS Notice 2021-20 highlights the need for employers to keep certain records that demonstrate their eligibility for ERCs. These records should be retained for five years from when the tax is due or paid. The notice emphasizes maintaining proof of a decline in gross receipts, among other specific documentation requirements.
The CEO adds,
“Our mission is clear: to protect those who legitimately qualify for the ERC, especially the underserved, including startup businesses, churches, schools, and nonprofits.”
Amidst the IRS’s heightened scrutiny, Corporate Strategies commits to supporting its clients throughout the entire process.
For trusted guidance and expertise on the ERC Payroll Tax Refund and other funding sources, visit Corporate Strategies at https://corporate-strategies.net/.
Corporate Strategies has worked with a wide roster of clients. Previously funded ERC payroll tax refunds include:
Why Choose Corporate Strategies?
Since 1984, Corporate Strategies Merchant Bankers has provided private funding solutions from $2,500,000 to $25,000,000 for small to medium-sized (SMB) businesses and non-profits whose loan applications have been rejected by conventional banks. Our 40 years of experience uniquely qualifies us to bring our SMB clients the CARES Act Employee Retention Credit (ERC) Payroll Tax Refund Program. Here’s why:
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