Small Company Employee Retention Credit History 2021-- ERTC Qualification Record Launched
ERTC Today, a tax credit consulting firm, has released an online tool to help small business owners determine if they are eligible for the 2021 Employee Retention Tax Credit (ERTC).
Participants can also use the newly launched tool to get consultations about their eligibility for the tax credit, and what amount they can expect. The ERTC does not have to be paid back, and any business, with fewer than 500 employees, both non-profits and start-ups, may potentially qualify.
The tool, along with more information about the ERTC, can be found at http://localrecoveryhelp.com
This announcement is to increase awareness of the newly approved tax credit. The IRS initiated it to help small businesses maintain their staff during difficult times.
Many businesses were affected by the pandemic and have had to deal with staff shortages and supply problems, closings and uncertainty. Over the past two years, lawmakers have created several relief programs to assist business owners and employees in these difficult times. One such program is the ERTC, which was introduced in March 2020 as part of Coronavirus Aid, Relief and Economic Security Act (CARES Act).
Businesses could be eligible for relief if they had to suspend or complete their normal operations in 2020 or 2021 because of a government order. This applies if they engaged in trade or business during these years and their employers were operating during the qualifying year.
Refunds may range up to $28,000 per employee, regardless of whether the business owner has previously received assistance from the Paycheck Protection Program (PPP). Before March 2021, many businesses chose the PPP, but since IRS regulations have changed many more businesses are eligible for both relief programs.
ERTC Today is endorsed by GL Digital, a Phoenix-based digital content marketer and enterprise software company dedicated to supporting small businesses. GL Digital offers small business resources such as tax consultation and advice on domain names, social media management software, webinar tools and video hosting platforms.
Interested parties can find more details at http://localrecoveryhelp.com