Securing Documentation of Operations for ERTC Application
For businesses that experienced a full or partial suspension of operations due to COVID-19, documentation of the suspension may be required to claim ERTC. This documentation may include government orders mandating the closure of non-essential businesses, notices from landlords or suppliers, or other relevant documentation. Business owners should ensure that they have accurate and up-to-date documentation of any suspensions or closures during the relevant periods.
Below are 5 key points about securing documentation of operations for your ERTC application:
- Provide clear and comprehensive documentation: Your business should maintain records and documentation related to its operations, including any closures, changes in operations, or other impacts due to COVID-19. Ensure that all documents are well-organized and easy to understand.
- Keep up-to-date records: It is essential to maintain up-to-date records of all your business operations, including any changes made due to COVID-19. This documentation will help you accurately and easily demonstrate your eligibility for the ERTC.
- Gather data from multiple sources: When gathering documentation of operations, it’s essential to collect data from a variety of sources, such as payroll records, financial statements, and communication with employees. This ensures that you have a complete picture of how your business was impacted.
- Be prepared to explain any inconsistencies: If there are any inconsistencies in your documentation, be prepared to explain them. Ensure that you have a clear understanding of your business’s operations during the relevant period and can provide an explanation for any discrepancies.
- Work with a qualified professional: If you are unsure about what documentation is required or how to gather it, consider working with a qualified professional. An expert in ERTC applications can help you ensure that you have all the necessary information and documentation to support your application.
