Small Business Worker Retention Credit 2021-- ERTC Eligibility Report 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 doesn't have to be repaid. Any business with fewer 500 employees (both non-profits as well as start-ups) may qualify.
The tool, along with more information about the ERTC, can be found at http://localrecoveryhelp.com
This latest announcement is intended to raise awareness about the recently approved tax credit. The IRS initiated it to help small businesses maintain their staff during difficult times.
During the pandemic, many businesses have struggled with staff and supply shortages, closures, and ongoing uncertainty. Lawmakers have passed several relief programs over the past 2 years to help business owners and staff cope with these difficulties. The ERTC is one such program, introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020.
Businesses may be eligible for relief if they were forced to suspend their normal operations in part or completely in 2020 or 2021 due to a governmental order, if they conducted trade or business during those years, and if their employers were in operation during either 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). Many businesses had previously chosen the PPP. However, IRS regulations have made it more accessible to all businesses.
ERTC Today is endorsed by GL Digital, a Phoenix-based digital content marketer and enterprise software company dedicated to supporting small businesses. In addition to tax consultation, GL Digital provides many small business other resources, including advice on social media management software, domain name registrars, webinar tools, and video hosting platforms.
Interested parties can find more details at http://localrecoveryhelp.com