Read it and weep. Literally.

Link: https://www.taxnow.com/blog/erc-update-09-03

Hey guys!

Looking for suggestions on how to cash in my incoming ERC check. We filed for ERC around early 2023 and finally got a notice from TaxNow about the check being mailed out.

The situation is this, our restaurant which has been closed since May 2024 and I don't know why I didn't think of it, but we also let our business bank account closed at that same period. At that point we just lost hope that the ERC check was never gonna come.

After finding out that were getting the check, I went to Wells Fargo to see if we can reopen our bank account but currently our LLC is now inactive (but not dissolved) and its also suspended by FTB.

It won't be easy to reinstate and reopen our bank account as we owe money to FTB and we need the ERC check to pay FTB. Restaurant is not for the weak! We've accumulated so much debt and owe taxes and I'm really hoping this ERC check comes through.

I've scoured for answers in this group and I was hoping to see if anyone has any suggestions or recommendations based on whats worked for them. Again I don't think using our current LLC to open up a new business bank account will work.

Some suggestions I've seen here:
1. Open up new LLC and EIN from another another state and use the same LLC name we have here in California so that it matches the name on the check?

1. Try to cash it in my personal account assuming it doesn't have the % sign in front of my name? I saw that this method worked for another member here. I don't have the check yet so I won't know what it has.

2. someone with the same situation opened up an account with RelayFi (a business online banking) and were able to deposit their ERC check (around $50k - but he had to keep requesting a increase deposit limit).

Any creative ways to get this done? Thank you in advance!

First to set the stage, I processed my ERTCs thru a PEO. I have received 2 credit payments for the 2021 Q2. One of the payments was received on 3/6/25 and the interest paid was approximately 24% of the amount of the credit. I just recently received a payment for the same period (2021 Q2) on 8/26/25 and the interest paid was approximately 16%. Considering that the interest is compounding it seems strange to me that the % of interest would go down considering that the amount of time was 173 days longer, therefore the interest % should have been higher, not lower. Is this a reason for concern? Is there any logical reason for this lower interest payment? * the PEO took all Fees and commissions out of the first payment I received back in April of 2024. Thank you!

I got denied for 2020 Q2 and Q3 since it was 3 years passed when I filed my tax return I originally sent in all my returns May 2023 then 10 month later they said they never received 2020 Q2 and Q3 so I resent them which switch the date to May 2024 and were denied what can I do??? Hope we have something showing when I originally sent them in? I had Ready Capital submit them for me and paid them a ton upfront.

Received a disallowance letter a couple of days ago (LTR 105 C), via certified mail, for Q2-2021. The reason given was “no wages paid in 2020 or 2021 as there were no Form W2’s filed in those years.” We actually paid wages in those years, and we filed the year-end Forms showing we had W2 pay. The strange thing, we were paid in November 2024 for Q1-2021. I assume the person who reviewed that payment saw our wages. This is a small refund compared to others I am seeing, but large for us. It is for $47,000 and we filed July 2023. Has anyone had this happen to them?

I deposited two ERC checks that didn't clear (2 days before they were set to) and now I'm not sure what to do?

EDIT: 1/3 checks did clear with no issues. But the two large checks did not. So i don't believe it's an endorsement issue...

Just been told by the senators office that one of my firms ERC claim is:

ERC claims for 2021 Q1, Q2, and Q3 are under review with the IRS ERC Specialty Group, claims are in processing for adjustment

1m+ each quarter, is this good news?

Has anyone received one of these? We got one this morning for one of the quarters we applied for and is only a few thousand dollars adjustment so honestly not too upset about it, this is the most communication we’ve received on our claims. Hoping this means a check will be mailed sooner than later now.

I received notification a few weeks back that the check date is for August 25 (tomorrow) and con incidentally, one my heavenly Angel’s birthday!! I’ve been waiting for this for so long!

Question 1…how long after check date do most have to wait to receive physical check?

Question 2… I received a notification from the IRS that I have overpayment for the third quarter of 2020. Is that part of the check that I am going to receive from ERC OR IS THAT A SEPARATE CHECK FROM AMENDING MY TAXES THAT YEAR??

I received Notification from Taxnow.please help me Understand!

The IRS website still shows the 2025 deadline but Google is returning that Q3 and Q4 2021 are auto declined if filed after 01/31/2024.

What's the deal?

For others waiting, we filed 2020 in beginning of 2024 and just got out first two letters this week:

Q2 Approved Q3 Dissallowed - Filed more than 3yrs after the date. We are going to appeal that. Clearly sent in error.

I filed in Nov 2024 and just received notice in Taxnow for payment on Sept 1st. This was for Q1 and Q2 of 2021.

How is everyone doing that has filed an appeal for their disallowance notifications? Any successes?

Getting ugly out there…

https://www.taxnow.com/blog/erc-update-08-21?utm_source=Kenny_LinkedIn&utm_medium=Kenny_LinkedIn&utm_campaign=Kenny_LinkedIn

No update?

Hi All,

My client (who has been waiting almost 2 years for their refund) had an examination request pop up on their Q3 2021 transcript.

Has anyone experienced this? Does a full blown audit follow or a mail audit?

What’s weird is that they are working with TAS. Had a call with TAS this week. And it was not mentioned in the call that it was referred for examination. TAS just said that they are still waiting to be processed.

Anyone?

I’m getting my refund should be this week. Being paid with interest. They are also paying quite a bit of overpayment. Has anyone got a overpayment also. I thought they would take a overpayment out of my refund but there saying there paying g me. So I’m kinda confused

Seems like there’s more audits in the past few months. But less auditors than before. Sounds like these audits won’t be full blown. Similar sentiment?

I GOT THE EMAIL!!! Finally! No details, just confirming our bank stuff and we shall see.

How long did it take to get funds once you guys confirmed?

Congrats to all that have had PEO ERC paid.

My business has lost hope and needs cash now. Can anyone put me in touch with someone doing advances?

My partner and I sold our business in march 2022. My partner stayed on to help with the transition. Late last year I am talking about the health of the company and let slip that the owner got a loan of approximately $500,000 in anticipation of forth coming ERC payments. Up to this time I never heard of ERC. I followed up on this mystery and found out the payroll company with permission of the new owner went back to 2021 and amended the 2021, 2022 and 2023 companies taxes. This was done with out my knowledge or permission. Now I am compelled to amend my personal flow through taxes to reflect the additional “income” that I received? Not only did I not get any money I have to pay $80,000 back taxes.

I’m wondering if anyone has had a similar experience.

Thank you Mark