Notifications from ADP
Posted Jul 13, 2022, 1:01 AM UTC
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Who did you contact (phone #, please) to get the 2 confirmed check dates and amounts? Thanks in advance.
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Late in the day on Friday each week, I call 800-829-4933. Hit option 1 and then option 3 which will take you to an agent, hopefully, or the call back service. It's possible based on call volumes at that time, that the call won't go through, but that's been extremely rare for me, late on Friday.
You will be asked for a number of pieces of information about your biz for identification purposes, and then what you're calling about. Just say "ERTC credits for Q2, Q3 and Q4 for 2020 and Q1, Q2 and Q3 of 2021" assuming you filed for all 6. If you didn't, just tell them the quarters you filed for.
Last Friday, they told me the amount of each check, including the portion that was interest (appears to be about 1.45% for Q2 and declining by about .14%/quarter for later quarters). Based on projections, assuming everything else is approved, our interest alone will be $20,000 which is a nice gift from the US of A.
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Thanks for the rapid reply. That is the phone # that I call, but I just wanted to make sure that I am using the most effective phone #. I also generally call each week or at least every other week.
Glad that they are adding interest but I do not know how they justify reducing the rate when rates have been increasing. Oh well. Thanks again.
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I think the rate is based on timing. It's the same rate, just less days of interest paid.
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Just found this...
WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning July 1, 2022. The rates will be:
5% for overpayments (4% in the case of a corporation).
2.5% for the portion of a corporate overpayment exceeding $10,000.
5% for underpayments.
7% for large corporate underpayments.
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Can you clarify when you say "ADP"? Is this the payroll processor ADP or is it ADP TotalSource, their PEO? In other words, is the IRS form 941 filed with your company's EIN or ADP's EIN?
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Were you told by ADP that you could file your own ERTC?
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We could not file our own 941x for ERTC because we are not the employer of record. ADP Totalsource, as our PEO, is the employer of record, and needs to file on our behalf.
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Yes we have the same situation however, they advised us to file our own in mid-2021 under our own EIN. It didn't make sense but they told us it would be faster if we did it.
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ADP is the payroll processor and file the biz taxes. We used an outside tax firm for the 941x filings.
The 941's are filed with our EIN.
EDIT - We do not use ADP as a PEO.
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You're lucky. Haven't heard of anyone with any PEO receiving ERTC funds yet, no matter how long ago it was filed.
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Our group had a conference call yesterday to review the status of our filings. One of the group filed through ADP back in October2021 and recently called the IRS support center. His filings aren't even recognized as being in the system as of yet.
On a happier note, someone who filed for credits over $500K in January received checks within the last 2 weeks. Needless to say, that's one happy camper.
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Posted on Friday that we had 2 confirmed check dates and amounts. Tonight ADP, our payroll processor, sent notification of 2 credits which matched the IRS comments of Friday.