For any business contemplating whether or not to apply for the Employee Retention Credit (ERC), the time it takes to receive their rebate from the IRS is becoming a major consideration. The most recent guidance from the IRS suggests that for applications filed from here on in, a wait of 16 months plus should be expected. That wait will only increase as the level of applications for this credit grows.
Enter ERC Claims with their innovative Rapid Rebate option for qualifying businesses. Describing it, Alison Coates, head of Business Development explained it by saying “our Rapid Rebate option is a pretty simple concept. We are seeing our clients waiting longer and longer to receive their payments from the IRS with no improvement in site – in fact quite the opposite. We wondered if there was a way to be able to essentially ‘advance’ the money to a business so they could have their money in a matter of weeks instead of many many months. As so many businesses could do with that money now, not sometime next year, we decided to go ahead and see what we could do. Now I’m incredibly happy to announce that we have just launched our ‘Rapid Rebate’ option. It’s available for businesses that retain us to make their claim for them and would like to receive their funds in 2-4 weeks from our submitting their filing to the IRS. Businesses will need to have a minimum claim of $100k to qualify, but for those businesses that do it can be a bit of a life-saver. This means that for those businesses that choose to go this route, they can have their money within weeks and be putting it to good use now, instead of having to wait for an unknown length of time which could prove costly for them. We’re hoping it will help a lot of businesses out there.”