Anybody here just sick and tired of the ERC? I love my weekly client phone call where they've been told they qualify from some expert based on supply chain issues their increasingly profitable construction company had..... it's exhausting.
That said, I have had a couple pop up who I think likely qualify under the Recovery Startup Business provision of the ERC for Q3 and Q4 2021.
But I cannot seem to get a clear cut answer to this question. If they set up their business and obtained their EIN after Feb 15, 2020, and then purchased the assets of an existing business (no shenanigans - purchase was made from an unrelated party, before the RSC was even a thought) do they qualify under the Recovery Startup provision?
I assume that has to be the case, but can't seem to find a definitive answer to that question anywhere. Obviously I'm asking if the business being owned by a previous entity, unrelated to my client, impacts their "startup" status.