Question #68:
Upon request by the IRS, what records must third-party payers obtain from their client employers to substantiate the client employer’s eligibility for the employee retention credit?
Found under the M. Special Issues for Employers: Use of Third-Party Payers section of the Employee Retention Credit (ERC) IRS Notice 2021-20 with updated guidance to help business owners follow the current ERC rules.
The answer to question #68, Upon request by the IRS, what records must third-party payers obtain from their client employers to substantiate the client employer’s eligibility for the employee retention credit?, can be found below.
ERC IRS Notice 2021-20 Question #68:
M. Special Issues for Employers: Use of Third-Party Payers
Upon request by the IRS, what records must third-party payers obtain from their client employers to substantiate the client employer’s eligibility for the employee retention credit?
If a third-party payer is claiming the employee retention credit on behalf of the client employer, it must, at the IRS’s request, be able to obtain from the client employer and provide to the IRS records that substantiate client employer’s eligibility for the employee retention credit.
For more information about the Employee Retention Credit (ERC) IRS Notice 2021-20, visit the Internal Revenue Service (IRS) Department of the Treasury, official IRS.gov tax website.
Conclusion and Summary Upon request by the IRS, what records must third-party payers obtain from their client employers to substantiate the client employer’s eligibility for the employee retention credit? – #68 ERC IRS Notice 2021-20
The answer to Question #68: “Upon request by the IRS, what records must third-party payers obtain from their client employers to substantiate the client employer’s eligibility for the employee retention credit?” was answered in detail above. It was found under section “M. Special Issues for Employers: Use of Third-Party Payers in IRS Notice 2021-20.
Leave a comment below if you have further questions on the Employee Retention Credit (ERC) or for clarifications upon request by the IRS, what records must third-party payers obtain from their client employers to substantiate the client employer’s eligibility for the employee retention credit?
Employee Retention Tax Credit (ERTC): Expert Assistance to Claim Your Business ERC Credit
Up to a $26,000 ERC Refund from the IRS for Each Employee
Disaster Loan Advisors can assist your business with the complex and confusing Employee Retention Credit (ERC), Form 941-X, and the Employee Retention Tax Credit (ERTC) program.
Depending on eligibility, business owners and companies can receive up to $26,000 per employee based on the number of W2 employees you had on the payroll in 2020 and 2021.
The ERC / ERTC Tax Credit Program is a valuable IRS tax credit you can claim. This is money you have already paid to the IRS in payroll taxes for your W2 employees.
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Schedule Your Free Employee Retention Credit Consultation to see what amount of employee retention tax credit your company qualifies for.
Cover Image Credit: Irs.gov / IRS Notice 2021-20 / Disaster Loan Advisors.
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