Employee Retention Tax Credit (ERTC) rewards businesses for paying employees during the pandemic by refunding the payroll costs spent on W-2 employees in 2020 and 2021.
More details can be found at https://filingertc.com
Most businesses were affected in one way or another by the negative effects Covid had on the economy.The Federal Government has recently amended the CARES Act, and it now makes more businesses eligible to collect the Employee Retention Tax Credit Funds that were originally offered to help businesses that were affected by and qualified for Covid-19 relief.
The ERTC program has been expanded to help more business owners retain their employees. In 2020, the employee retention tax credit program provided refunds of $5,000 per employee for eligible employers. In 2021 this increased to as much as $21,000 per employee, calculated across W-2 wages paid in Q1, Q2, and Q3.
The Employee Retention Tax Credit funding isnÂ’t a loan and never has to be paid back, business owners can use the funds for whatever they need. as filingEtrc.com explains. ERTC is not related to just one industry or type of business.
Because of the processing time and complexity involved with the ERTC program, most businesses choose to participate in the Paycheck Protection Program (PPP) program, because it got them funding quickly, whereas the ERTC Funding initially took at least 6 months to process and get paid on.
filingEtrc.com points out that Even if a business previously participated and collected funding under the PPP program, they probably now also qualify to receive additional funding under the ERTC program. If the business didnÂ’t participate in the PPP program, then they possibly even qualify for a bigger refund.
Most CPAs donÂ’t have the specialized knowledge or time to process these types of complex applications. filingEtrc.com teamed up with the best ERTC Accounting Specialists in the Industry, who have already filed and gotten hundreds of businesses ERTC Tax Credit.
A spokesperson for the filingEtrc.com said “This is all what the expert ERTC Team does, and they will be able to work with the Business Accountant if needed to obtain the necessary business paperwork and file 941-X amended payroll returns to get the business it’s ERTC Funds”.
Interested business can learn more by visiting http://filingertc.com/
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