Tax Credits

Omega Accounting Solutions ERC Review (2023)

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In today’s ever-changing economic landscape, businesses are on the lookout for strategies that can optimize their financial operations and leverage available incentives. Among the valuable tools at their disposal is the Employee Retention Credit (ERC), a key component of the government’s economic relief efforts.

Understanding the significance of this credit for businesses, Omega Accounting Solutions, a respected financial and tax advisory firm based in Irvine, California, has introduced its pioneering ERC Filing Review program.

Omega Accounting Solutions aims to simplify the ERC process through their ERC Filing Review program. This article provides an in-depth overview of Omega Accounting Solutions, shedding light on their range of services, their ERC filing review solution, prominent features, and their level of customer support.

Omega Accounting Solutions: At A Glance

Company Name: Omega Accounting Solutions
Region: Irvine, CA
Established: 2007
Phone: 949.444.5311

Key Takeaways

  • Omega Accounting Solutions: A seasoned accounting and data firm dedicated to serving small and medium-sized businesses (SMBs) with expert financial services and accounting solutions.
  • ERC Specialist: The company has established itself as a leading expert in Employee Retention Credit (ERC) filings, offering a comprehensive suite of features to assist clients in maximizing the benefits of this government tax incentive.
  • Responsive Customer Support: While Omega Accounting Solutions does not disclose its fees upfront, the company ensures responsive and direct customer support for inquiries related to service costs and payment options.

Omega Accounting Solutions, an accounting and data firm established in 2007 by Jay Woods in Irvine, California, has been serving small businesses with a range of financial services. Their primary goal is to empower these businesses with essential tools and expertise, enabling them to make informed decisions for growth and success.

The company’s core services include expert accounting, advanced analytics, and tax credit assistance. By leveraging cutting-edge business intelligence technologies, Omega Accounting Solutions helps businesses simplify their daily financial challenges, streamline operations, and identify new opportunities for growth.

One of the notable divisions within the firm is their tax credit team, which specializes in assisting businesses in claiming the Employee Retention Credit (ERC) and Research & Development tax credit. These tax credits can significantly benefit eligible companies, providing valuable incentives to retain employees and foster innovation.

In addition to their financial and tax services, Omega introduced a funding division called Omega Funding Solutions (OFS) in 2022. This third-party lender offers short-term bridge loans to organizations anticipating ERC refunds, providing them with financial flexibility during challenging times.

Omega Accounting Solutions Services

Beyond its ERC filing program, Omega Accounting Solutions offers a comprehensive range of accounting solutions and financial services designed to assist business owners in achieving their goals. These services cater to small and medium-sized businesses (SMBs) seeking expert financial guidance and support.

One of their key offerings is the R&D Tax Credit service, targeted at businesses engaged in legitimate research and development activities. This service can be especially valuable for companies that focus on innovating and developing new products, services, or platforms.

Omega also provides business intelligence services that utilize a team of in-house developers to integrate various data sources, such as accounting, time-keeping, ERP, and CRM systems. By consolidating data into a single reporting tool with a dashboard, businesses gain the ability to view and analyze data efficiently. This access to actionable metrics linked to detailed data enhances decision-making capabilities.

The CFO Deep Dive service is another noteworthy offering from Omega Accounting Solutions. This service includes a thorough review and analysis of financials, assessment of potential tax impacts related to ERC and PPP loans, benchmarking against industry peers, and a comprehensive evaluation of current tax strategies. Moreover, the service offers projected tax liability and future projections, key financial trends, ratios, and potential tax strategies for review by a CPA.

Additionally, the company provides Fractional Accounting, Funding Solutions, High-Road Cannabis Tax Credit (HRCTC), Analytics for Finance and Reporting, and Business CFO services.

Omega Accounting Solutions ERC Services

Applying for the Employee Retention Credit (ERC) can be a significant source of financial relief for many businesses. However, with changes in legislation, potential beneficiaries may find the process confusing. To address this challenge, Omega Accounting Solutions has become an ERC specialist, providing expert assistance to eligible businesses seeking to secure this government tax incentive.

One of Omega’s distinctive offerings is the ERC bridge loans, a unique service not commonly found with other ERC companies. This service provides clients with additional financial flexibility while their ERC claims are being processed.

A key aspect of Omega’s ERC services is its ERC Filing Review program. Through this service, Omega’s tax credit analysts conduct a comprehensive examination of clients’ ERC claims, carefully assessing all essential areas for ERC compliance.

By reviewing calculation methodology, filing documents, eligibility criteria, supporting evidence and documentation, and the timeline of government orders, Omega ensures that clients’ ERC claims are accurate and protected from potential audit penalties.

Additionally, Omega provides a free ERC analysis to help businesses determine if they qualify for the ERC refund. They also offer ERC advances, providing eligible businesses with a 12-month loan of up to 65% loan-to-value (LTV) of the ERC refund amount, with funds disbursed as quickly as 30 days after applying.

To further assist clients, Omega provides an online ERC calculator to estimate the potential refund amount, and a secure online portal for easy and efficient upload of supporting ERC claim documentation. The accounting firm also verifies eligibility for recovery startup businesses.


At present, Omega Accounting Solutions does not disclose its fees upfront, leaving uncertainty about the cost of services. The lack of clarity extends to when fees are due, leaving businesses wondering whether they can pay upfront at a discounted rate or opt for payment upon receiving their refund.

To shed light on this aspect, interested parties can reach out to Omega Accounting Solutions via their online form. By providing necessary details, businesses can expect a call back from the firm’s representatives to discuss eligibility and receive a comprehensive understanding of the potential costs if they decide to proceed.


Accurate filing for the ERC is not just a matter of compliance; it has become a crucial aspect for businesses seeking to make the most of this government tax incentive. As changes in legislation continue to shape the landscape, businesses must tread carefully to ensure their claims are both accurate and beneficial.

Omega Accounting Solutions emerges as a reliable partner for businesses navigating the complexities of ERC filings. Beyond being an ERC specialist, the firm recognizes the evolving nature of regulations and caters to clients with expert assistance. Their focus on accuracy, compliance, and ensuring businesses receive the full benefits they deserve has positioned them as a noteworthy player in the field.

However, Omega Accounting Solutions goes beyond ERC filings. With a variety of accounting solutions at their disposal, they provide a holistic approach to businesses seeking financial guidance and growth opportunities. This range of services reflects their commitment to assisting businesses in streamlining their financial operations and leveraging valuable insights to drive success.