VerAleo Launches Accelerated ERC Claim Validation and Appeals Processing Services

Washington, DC - October 17, 2024

VerAleo, a leader in innovative financial solutions, announces the launch of two cutting-edge services: the Employee Retention Credit (ERC) Claim Validation service and the ERC Appeals Processing service. These offerings arrive as businesses face unprecedented challenges in the ERC landscape, with thousands of SMBs undergoing intense audits, over $5 billion in disallowed claims, and a complex appeals process.

"In today's complex tax landscape, ensuring the accuracy and compliance of ERC claims is more crucial than ever," said Caroline Olsen, Director of Accounting at VerAleo. "Our Claim Validation service provides unparalleled precision and efficiency, giving our clients peace of mind and maximizing their potential for successful claims."

Kyle Huffstetler, Chief Executive Officer at VerAleo, added, "With the IRS facing unprecedented backlogs and issuing numerous claim denials, the need for efficient and effective appeals processing has never been greater. Our Appeals Processing service ensures that businesses can navigate the appeals process swiftly and successfully, maximizing their chances of claim approval."

Key features of VerAleo's ERC Claim Validation service include:

1. Dual-Path Qualification Assessment: Expertly determining the most advantageous qualification path - either Decline in Gross Receipts or Business Disruption.
2. Comprehensive Ordinance Research: Thorough identification of relevant COVID-19 ordinances to substantiate Business Disruption claims.
3. Streamlined IRS Form Generation: Efficient creation of necessary documentation, ensuring accuracy and compliance with the latest IRS guidelines.
4. Multi-Quarter Processing: Ability to process claims across multiple quarters and years, adapting to varying qualification criteria.
5. Real-Time Compliance Updates: Continuous integration of the latest IRS guidance to ensure all claims meet current standards.

The ERC Appeals Processing service offers several key advantages:

1. Strategic Deadline Management: Expert tracking of the crucial 24-month appeal window, ensuring timely submissions.
2. Professional Appeal Letter Creation: Customized, compelling appeal letters crafted by experienced tax professionals.
3. Comprehensive Claim Re-substantiation: Thorough review and fortification of original claims to address potential reasons for denial.
4. Persuasive Cover Letter Development: Expertly written cover letters that clearly articulate how each claim aligns with the latest IRS guidance.
5. Multi-Quarter Appeal Handling: Capability to manage appeals for multiple quarters simultaneously, increasing efficiency for businesses with complex claims.
6. Up-to-Date IRS Guidance Compliance: Continuous updates to ensure all appeals align with the most current IRS requirements and interpretations.

These services are designed to benefit both accounting professionals processing multiple claims and SMB financial operators seeking to substantiate their own claims or appeal denials. By significantly reducing processing time and minimizing errors, VerAleo's services allow businesses to focus on what matters most - their core operations and recovery.

"In our experience with the Appeals Processing service, we've seen a marked increase in successful appeals and a reduction in processing time by up to 70%," noted Huffstetler. "This service isn't just about efficiency; it's about helping businesses secure the credits they rightfully deserve."

VerAleo's advanced ERC processing capabilities are powered by a proprietary accounting intelligence toolkit powered by AmpliFi which have significantly enhanced processing timelines and VerAleo's ability to keep clients updates on payment timelines.

Caroline Olsen further emphasized the impact of this technology partnership: "AmpliFi's intelligence platform has been a game-changer for us. We've not only streamlined our processes but also dramatically improved our ability to service clients across industries. This level of efficiency and transparency is invaluable given the most recent changes to IRS guidance"

About VerAleo: VerAleo is a leading provider of innovative financial solutions, specializing in complex tax processing and IRS compliance. With a commitment to accuracy, efficiency, and client success, VerAleo is revolutionizing the way businesses approach tax planning.

For more information about partnering with VerAleo for ERC claims and appeals, please contact Caroline Olsen, Director of Accounting at VerAleo: caroline.olsen@veraleo.co.