Small Business Staff Member Retention Debt 2021-- ERTC Eligibility 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 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 announcement is to increase awareness of the newly approved tax credit. It was initiated by the IRS to assist small businesses in maintaining their staff during these challenging times, via payroll cost refunds.
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 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.
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