M-Insurance

From rising market volatility to increased fraud risk, the insurance industry had to fight through the pandemic.

How we've helped over 14,000 eligible businesses, including those in insurance, file for the ERC.

Qualifying them for government shutdown orders

Determining eligibility under limited commerce

Outlining COVID’s impact beyond reduced revenue

With the ERC, qualifying companies may receive a refund to help create new products, increase digitization efforts, and drive sustainable growth.

Can my insurance company claim the ERC?

Insurance businesses in almost every state likely qualify for the ERC due to government shutdown orders. Even if revenue did not decline, your insurance business may have experienced partially suspended operations due to a government mandate, and it may still qualify under limited commerce. Learn more about eligibility requirements at What is ERC.

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What is limited commerce?

Limited commerce refers to a partial suspension of business operations due to a government order. A partial suspension has occurred if:

• More than a nominal portion of business operations was suspended

• A government order significantly affected operations

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During the calendar quarter in 2019, if your business experienced either of the below criteria, it may qualify for partially suspended operations:

• Gross receipts from the suspended portion aren’t less than 10% of the total gross receipts

• Employee hours spent on the suspended portion aren’t less than 10% of total employee hours performed

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Can my insurance business qualify under limited commerce?

Using your written testimony about how COVID affected your business, our independent tax attorneys and professionals will determine if your business can file under limited commerce. Your insurance company may qualify due to:

Increased digital expenses

With physical brokerage firms closed, customers turned to digital insurance services, leading to increased demand for digital policy solutions, automation, and online insurance advice.

Decrease in demand

Many people lost their jobs or faced financial difficulties and had to cut back on insurance premiums.

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Where can I learn more about limited commerce?

The Consolidated Appropriations Act resulted in the IRS releasing Notice 2021-49, which outlines limited commerce. Please visit the IRS website for more information or work with one of our independent tax attorneys and professionals.

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The ERC for the insurance industry

From rising market volatility to increased fraud risk, the insurance industry had to fight through the pandemic.

What our insurance customers are saying

Our team of independent tax professionals works for you, with no upfront fee

Check eligibility in around 8 minutes

Frequently Asked Questions