ERC Processing Times: How Long Does It Take to Get ERC Refunds?

ERC Processing Times: How Long Does It Take to Get ERC Refunds?
How Long Does It Take to Get ERC Refunds?

Are you wondering whether to file for Employee Retention Credit (ERC) but aren’t sure about ERC tax credit processing times? You’re not alone. It’s important to realize that eligible employers may experience ERC refund delays, which can be frustrating. This is especially a concern for severely impacted businesses that made the application in hopes of revitalizing their operations after the financial strain caused by the COVID-19 pandemic. The truth is, a backlog of 941-X  forms has stacked up before the IRS, as thousands of employers seek out much-needed (and often well-deserved) Employee Retention Tax Credit (ERTC) incentives, resulting in the potential for a slow turnaround time for refunds. Thankfully, ERC credit processing times have been decreasing in recent months. 

How Long to Receive an ERC Check?

Initially, businesses could typically get their Employee Retention Credits within 2-3 months of filing. But with the overwhelming backlogs pummeling the IRS, there was a significant increase in the average processing time for refunds, with claims taking up to 6 months (or longer) to pay out! Filing errors such as missing information in the 941-X or calculation inaccuracies can cause the process to take even longer. And large refunds may experience further delays due to the additional assessment required before they can be issued. Thankfully, as of 2023 the IRS is aiming for a 90-day window between employers filing applications and receiving checks. However, the above issues highlight the importance of getting the ERC application right the first time. Dedicated professionals like Headcount ERC are here to help increase your chances of getting your maximum ERC credit amount eligible – in the minimum time possible. 

Can You Get ERC Expedited

Unfortunately, no. While many wish to have applications for ERC expedited, IRS delays are outside your control. The best you can do is make sure your paperwork is done correctly. Consider asking for guidance from a reputable employee retention credit company. Getting things done right the first time around can help ensure the accuracy and completeness of your application, potentially preventing stagnation. If you need the refund sooner, your best option is to work with an Employee Retention Credit advance loan provider to get an advance of your ERC payout – and some lenders can get you that in just a few weeks! For tips on ERC fast funding, please contact us at [email protected]. We’d be happy to provide you with some top ERC advance loan provider recommendations. 

How to Track Your ERC Refund

If you have done your Employee Retention Credit filing, you can track your ERC refund by calling the IRS for a status update. Be sure to have your tax return information, federal identification number, and any other important details the IRS may require to verify your identity readily available. Keep in mind, however, that due to a scarcity of IRS agents available to answer these calls, your hold times might be exceptionally longer. Also, speaking to an IRS representative will only provide you with additional information about your ERTC refund; it won’t make the process move any faster.

Can You File a Second ERC Refund?

Despite the long ERC processing times, you cannot file a second claim for the same refund. Duplicate claims will only cause further delays instead. However, it is possible in certain cases to file an application to get ERC for multiple businesses. 

Don’t Give Up on Your ERTC Refund

Claiming your ERTC refund is certainly worth it for the majority of applicants; even with the frustrating delays. The reality is, you cannot get your ERC tax credits if you don’t apply. Sure, the funds may not arrive overnight, but that definitely can’t be worse than not receiving any money at all! Headcount ERC is here to help you understand refund processing timelines so you can apply for Employee Retention Credit with realistic expectations and maximize ERC and PPP potential. We focus on identifying any areas within your application that might cause potential delays. It’s our goal to fast track ERC for your company and maximize your chances of getting the best ERC tax credit that you deserve. The best part? We don’t get paid until you do! Get in touch with us for personalized Employee Retention Credit help.

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