Small Business Worker Retention Debt 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).
The newly launched tool also allows participants to secure consultations to discuss their eligibility for the tax credit and the amount they can expect to receive. 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.
Many businesses were affected by the pandemic and have had to deal with staff shortages and supply problems, closings and uncertainty. Lawmakers have passed several relief programs over the past 2 years to help business owners and staff cope with these difficulties. 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 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.
No matter if the business owner received assistance through the Paycheck Protection Program (PPP), refunds can be up to $28,000 per employee. Before March 2021, many businesses chose the PPP, but since IRS regulations have changed many more businesses are eligible for both relief programs.
GL Digital, a Phoenix-based digital content marketing company and enterprise software provider dedicated to small business support, endorses ERTC Today. 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