New awareness campaign by ERTC Express sheds light on common ERTC eligibility and application misconceptions and explains how eligible employers can apply.
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Billions of dollars lay unclaimed due to, in part, the various misconceptions surrounding the ERTC program, explains ERTC Express. With the new public awareness campaign, the firm hopes to debunk these myths, clarify misunderstandings around the program’s eligibility, and encourage employers still on the fence to check whether they qualify using a simple Initial Inquiry Form on its website.
More details can be found at https://employee-retentiontaxcredit.com/
Created under the CARES Act as part of the federal government’s stimulus package during the COVID-19 pandemic, the ERTC provides up to $26,000 per W-2 employee for employers who kept their workers on payroll between 2020 and 2021. However, misconceptions concerning eligibility persist, with many believing that only businesses deemed essential can benefit from the program. Debunking this myth, the ERTC experts note that any business (provided it was affected by the lockdown and employs fewer than 500 full-time equivalent employees) does not need to be classified as essential to qualify for the employee retention tax credit.
The ERTC Express team also clarifies that employers who received Payroll Protection Program (PPP) funds or had their PPP loans forgiven may also be eligible for the tax rebate, thanks to the Consolidated Appropriations Act (CAA) of 2021, which removed this limitation. Furthermore, businesses that experienced only moderate dips in revenue or, in some cases, increases, even though they experienced a partial or full suspension, can still qualify.
Another common myth the CPA team hopes to dispel is that the application for the ERTC is closing in 2024. While that’s partly true, according to the current IRS guidelines, ERTC applications can be made through April 15, 2025, for the 2021 tax period. April 15, 2024, is the cut-off date for 2020 tax periods.
ERTC Express works with businesses across various verticals, from NGOs and educational organizations to SMBs and startups. Its services are available on a contingency fee basis, with its team of ERTC experts committed to helping clients maximize their refunds.
For a time commitment of less than 15 minutes, interested business owners can verify their eligibility and the estimated potential amount they could receive should their claims get approved. ERTC Express notes that there's an IRS moratorium and voluntary disclosure period in place that could significantly extend the processing time of new claims.
Additional information can be found at https://employee-retentiontaxcredit.com/
Contact Info:
Name: Paul Tunks
Email: Send Email
Organization: ERTC Express
Address: 99 Wall Street Suite 3620 , New York, New York 10005, United States
Website: https://employee-retentiontaxcredit.com/
Source: NewsNetwork
Release ID: 89122520
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