WHY Tens of Thousands got ERC that Did NOT Qualify

Larry Gray, CPA breaks down IRS FAQ number five concerning the Employee Retention Credit. Listen carefully as to if and why your business does or does not qualify for the credit. Larry is very concerned that tens of thousands of businesses received the credit that did not qualify and will have to pay the money back to the IRS including interest and a penalty.

Link to IRS FAQ:
https://www.irs.gov/coronavirus/frequ...

Timestamp:
0:00 Intro
1:08 Two Ways to Qualify
3:36 Was There a Mandate?
6:58 Eligibility Explained
11:41 The Bottom Line
12:34 Supply Chain Criterion

Catch our previous ERC videos here:
How to Prepare for an ERC Audit by the IRS | Small Biz & Tax Pro HELP
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Is This Your Business? | IRS Clarifies ERC Supply Chain Questions with 5 Scenarios.
🎥   • Is This Your Business? | IRS Clarifie...  

How to Correctly qualify for the ERC. What to document. (2023 Update)
🎥   • How to Actually Qualify for the ERC. ...  

Amended ERC Income Tax Return Help. Tax Professionals' Due Diligence.
🎥   • Amended ERC Income Tax Return Help. T...  

Warning Signs of a False ERC Claim | Small Business ERC Scheme Red Flags🚩
🎥   • Warning Signs of a False ERC Claim | ...  

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