What is the current state of the ERC?
Updated: Jun 13
As of today August 28, 2022 we are seeing a wide array of processing times. The bulk of clients seem to be moving together, however some have been "stuck" for quite some time now.
We are seeing April clients receive funding, with other clients still waiting from October 2021.
A few topics we want to bring to your attention are the use of USPS mail forwarding and potential reasons why a larger refund may take longer than a smaller refund.
If you have mail forwarding for your business at the USPS you will not receive your refund check without contacting the IRS and waiting for them to reissue the check to your new updated address. This is because the USPS does not forward treasury checks, a fraud preventative measure.
We are seeing small refunds processed quickly, the larger the refunds the longer the wait appears to be. We think this is so that the IRS can perform some more in-depth analyzing on the larger claims to ensure they were reported and calculated correctly.
Who is receiving the most in ERC? Check out this picture below posted by the GAO in May 2022 about 2020 ERC filings.