The employee retention tax credit was a refundable payroll tax credit for eligible employers that paid qualified wages after March 12, 2020 and before January 1, 2022. The IRS says eligibility generally depended on a qualifying government-order suspension, the required decline in gross receipts, or recovery startup business rules for certain 2021 quarters.
For most businesses, the main ERC filing deadlines have already passed. The IRS says the general deadline was April 15, 2024 for 2020 tax periods and April 15, 2025 for 2021 tax periods. That means many businesses in Atlanta, Georgia are no longer asking whether they can start a brand-new claim. They are asking whether a past position was valid, whether documentation is complete, or what to do next if a claim, refund, or IRS issue is still unresolved. 15x Financial Solutions lists Employee Retention Credit among its services and presents itself as an Atlanta-based financial wellness agency that helps business owners access business funding and financial resources.
Even though the main claim window has closed, ERC still matters because the tax impact can continue long after the original filing. The IRS says employers that claimed ERC generally had to reduce their wage deduction for that same tax period, and businesses that incorrectly claimed the credit may have to pay it back, possibly with penalties and interest. The IRS also urges businesses that need help with ERC or with resolving an incorrect claim to seek a reputable tax professional. Another major issue is PPP overlap. The IRS says employers generally cannot claim the employee retention tax credit on wages that were reported as payroll costs for Paycheck Protection Program loan forgiveness. That is one reason ERC review often requires more than a quick answer. Payroll detail, quarter-by-quarter revenue support, PPP records, and filing history all matter.
The most useful ERC support today is usually not hype about “easy refunds.” It is organized review. Since 15x Financial Solutions already features Employee Retention Credit as a service and is based in Atlanta, the company can serve as a practical starting point for businesses that want to review records, clarify their timeline, and prepare for a stronger conversation with a CPA, payroll provider, or tax professional.
For Atlanta businesses, that can mean gathering payroll records, identifying which quarters were analyzed, checking whether PPP wages were separated correctly, and understanding what was actually filed. The IRS specifically notes that ERC claims were generally made on original or adjusted employment tax returns, including Form 941-X for amended claims, and that employers should be careful with incorrect claims.
A term loan is a type of loan that provides borrowers with a fixed amount of money that is repaid over a predetermined period, known as the loan term. These loans can be obtained from various financial institutions, such as banks, credit unions, or online lenders.
Equipment financing is a specialized type of business financing that allows companies to acquire the necessary equipment and machinery without the burden of making a full upfront payment. Instead, the equipment is purchased by a lender, who then leases it to the business for a fixed period
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A working capital loan serves as a brief business financing option crafted to ensure that a company possesses sufficient funds to cover its routine operational costs. These loans generally offer swift disbursement and feature concise repayment timelines. It’s worth noting that their purpose primarily centers on addressing immediate financial needs and isn’t tailored for substantial, extended-term acquisitions.
An SBA loan stands as a financial solution tailored for small businesses, offering support for initial expenses, operational funds, growth endeavors, real estate acquisitions, and various other purposes. This form of financial assistance is provided by a private lender, while receiving federal government backing to enhance its security and viability.
Accounts receivable financing is a financial alternative that utilizes your business’s outstanding invoices as collateral, unlocking a lump sum of cash. Under this arrangement, invoice financing is structured to offer you an upfront payment of a certain percentage of the invoice’s total value. Subsequently, the responsibility of collecting payments from your customers is assumed by the factoring company.
Asset Based Lending pertains to a business financing approach that hinges on utilizing a company’s assets as security. This framework empowers a company to promptly tap into the working capital inherent in their assets, encompassing factors like Accounts Receivable, Equipment, and Inventory.
The Employee Retention Credit (ERC) stands as a governmental initiative crafted to assist businesses that successfully maintained their workforce amid the challenges of the Covid-19 pandemic. Instituted through the CARES Act, this credit takes the form of a refundable tax benefit available for your business to claim.
The employee retention tax credit is no longer mainly about broad refund marketing. For most businesses, it is now about reviewing past eligibility, confirming claim accuracy, organizing payroll and PPP records, and preparing for the right next step under current IRS guidance.
For businesses in Atlanta, Georgia, 15x Financial Solutions can be a practical starting point for that process. Whether your goal is to review a past ERC position, sort through supporting records, or prepare for a stronger discussion with a reputable tax professional, a more organized approach can reduce confusion and help you move forward with more confidence.
15X Financial Solutions is a financial wellness agency that helps business owners from various industries access business funding resources.
2255 Cumberland Pkwy Bldg 1600, STE 115-A, Atlanta, Georgia 30339
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