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Employee Retention Credit Engagement Letter

Employee Retention Credit Engagement Letter Template for United States

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Key Requirements PROMPT example:

Employee Retention Credit Engagement Letter

"I need an Employee Retention Credit Engagement Letter for my CPA firm that specializes in manufacturing clients, with specific provisions for handling multiple affiliated entities and a contingency fee structure based on credit amounts secured."

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Document background
The Employee Retention Credit Engagement Letter serves as a crucial document in the United States for establishing a professional relationship between service providers and businesses seeking to claim the Employee Retention Credit (ERC). This document became necessary following the introduction of the ERC through the CARES Act in 2020 and its subsequent modifications. The engagement letter defines the scope of work, clarifies responsibilities, establishes fee structures, and includes required regulatory disclaimers. It's particularly important given the complex nature of ERC calculations and the significant IRS scrutiny these claims receive.
Suggested Sections

1. Engagement Purpose: Clear statement of services being provided regarding ERC assistance and reference to governing legislation (CARES Act, CAA 2021, ARPA 2021)

2. Scope of Services: Detailed description of what is and isn't included in the ERC engagement, including eligibility analysis, calculations, and filing assistance

3. Client Responsibilities: Documentation requirements, cooperation expectations, and accuracy of information provided

4. Fee Structure: Pricing methodology, payment terms, and conditions for engagement

5. Timeline: Expected duration of engagement, key milestones, and deadlines

6. Limitations and Disclaimers: Professional service limitations, IRS examination provisions, and regulatory compliance statements

Optional Sections

1. Additional Services: Description of related services available beyond core ERC assistance, used when firm offers complementary tax or consulting services

2. State-Specific Disclosures: Required state-level disclaimers and professional service requirements based on jurisdiction

3. Conflict Resolution: Procedures for handling disputes and governing law specifications, used in high-value engagements

Suggested Schedules

1. Required Documentation Checklist: Comprehensive list of documents needed from client to support ERC claim calculation and filing

2. Fee Schedule: Detailed breakdown of fees, payment structure, and any contingent fee arrangements

3. IRS Circular 230 Disclosure: Required tax advice disclaimer and professional standards compliance statement

4. Service Timeline: Detailed project timeline with key milestones and deliverables

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Clauses




























Industries

CARES Act 2020: The Coronavirus Aid, Relief, and Economic Security Act that originally established the ERC program, including initial eligibility requirements and credit calculations

Consolidated Appropriations Act 2021: Legislation that expanded and modified the ERC program, changed PPP loan interaction rules, and modified eligibility criteria

American Rescue Plan Act 2021: Further extended and modified the ERC program, including Recovery Startup Business provisions

IRS Notice 2021-20: Initial comprehensive guidance from the IRS regarding Employee Retention Credit implementation

IRS Notice 2021-23: Specific guidance for ERC implementation in Q1-Q2 2021

IRS Notice 2021-49: Specific guidance for ERC implementation in Q3-Q4 2021

IRS Notice IR-2022-183: IRS guidance and warnings regarding ERC scams and improper claims

State Professional Services Regulations: State-specific requirements for CPA firms and professional liability considerations

Circular 230: Treasury Department regulations governing tax practitioners, including professional obligations and responsibility standards

AICPA Professional Standards: Professional standards and guidelines for tax services and consulting set by the American Institute of CPAs

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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