The Lake Law Firm Is Here To Help Small Business Owners Navigate The Employee Retention Tax Credit And Clear Up Any Misconceptions

Roughly a year ago, it dawned on The Lake Law Firm that many businesses were not taking advantage of the Employee Retention Tax Credit (ERTC). The firm discovered that only a small percentage of eligible business owners had claimed the credits available through the ERTC, worth up to $26,000 per W-2 employee.

The ERTC is a refundable tax credit created to reward businesses that kept employees on payroll during the pandemic despite experiencing a drop in revenue or being impacted by governmental mandates. However, several ERTC myths have discouraged business owners from applying.

For starters, many business owners believe the ERTC has expired, unaware that applications for 2020 and 2021 are still open. In addition, businesses often assume they are ineligible because they received PPP loans or based on advice from their CPA, who may only take into consideration revenue declines. But, it’s worth noting that other factors can qualify a business for the ERTC outside of a decrease in revenue. Finally, some companies fear scams or worry they can’t devote their already limited time to the daunting ERTC application process.

“This money can be invaluable for businesses trying to get back on their feet after COVID-19,” explains Michael Blom, a partner at the firm leading its ERTC program. “We don’t want to see false information hold businesses back from these credits that could be instrumental in their recovery.”

The Lake Law Firm is working hard to set the record straight and make it possible for businesses to claim this tax refund through their straightforward ERTC filing services. Their attorneys and accountants handle everything, from evaluating eligibility to completing and submitting complex IRS tax forms. Plus, the firm does not charge anything unless the business receives a check from the IRS, and defends clients at no charge if there is an audit.

At no cost to business owners, The Lake Law Firm offers comprehensive case evaluations, providing them the opportunity to have their most pressing ERTC questions answered without the worry of upfront fees if they don’t meet the eligibility requirements.

“There are a lot of ERTC misconceptions floating around right now, but we take pride in educating the public about this misunderstood program,” adds Blom. “We encourage all business owners affected by the pandemic to reach out, even if they don’t think they qualify, because it only takes about 20 minutes to sit down with us to determine their eligibility.”

More information about The Lake Law Firm’s ERTC program is available at https://ertcadvisors.org/ or by calling 888-LAKE-LAW.

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