Is anyone out there advancing (loans) on FFCRA/SETC tax refunds from the IRS?
FFCRA Family First Coronavirus Response Act SETC Self Employed Tax Credits
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SETC/FFCRA cash advance (loans)
SETC/FFCRA cash advance (loans)
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We already have clients who have filed 1040X with the IRS expecting SETC/FFCRA refunds ranging from $20k to $69K. I know the maximum is $32k but our accounting partners are doing forensic accounting to adjust for missed credits and deductions, hence the higher refunds.
So a lot smaller than the ERC refunds but it's still business with volume.
@Michael Slabitcher