The Park Settlement team bring decades of experience in the accounting and professional services industries. They have combined this experience with their deep technical expertise to develop to streamline the ERC analysis process while strategically maximizing the refundable credit, especially for businesses that took PPP loans in the past. The team also offers several other services, such as structured settlements, litigation financing, and annuity funding.
Unlike PPP which is administered by the U.S. Small Business Administration through thousands of SBA-approved lenders, Employee Retention Tax Credits must be claimed directly with the IRS on an employer’s quarterly payroll tax forms.
Navigating the IRS tax code, properly determining eligibility, PPP interaction with ERC calculations, and developing the documentation to support an IRS audit is time consuming and not easy – most current advisors are not fully equipped to work with specialized tax credits such as ERCs.
Big businesses that could have the resources to execute, likely don’t qualify for ERCs based on headcount limits.
Small businesses who should qualify based on headcount and revenue likely don’t have the internal expertise.