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 Form it 607 Claim for Excelsior Jobs Program Tax Credit Tax Year 2022

607 2022-2024 Form

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Video instructions and help with filling out and completing Form IT 607 Claim For Excelsior Jobs Program Tax Credit Tax Year

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Instructions and help about it607

JJ the CPA here hope you're doing well so can you charge contingency fees for providing the services related to the employee retention tax credit and the answer is no where do I come up with that answer the IRS is circular 230 and in section 10-27 they cover specifically contingence fees now what is a contingency fee is a percentage of whatever your credit is so if your credit is a hundred thousand dollars and somebody's charging a 30 percent contingency fee then they're going to be paid a thirty thousand dollar fee it's unconscionable the services of filling out a form 941x including all the calculations related to that does not rise to the level for the government to allow a contingency fee to be charged you're paying a contingency fee you need to go back to them and say you're not allowed to charge that you should pay something should pay something reasonable for CPAs one step further we look at the aicpa code of conduct look in section 1.510 and IT addresses it there in the body o

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