Local Business Staff Member Retention Debt 2021-- ERTC Qualification 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 does not have to be paid back, and any business, with fewer than 500 employees, both non-profits and start-ups, may potentially 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. Over the past two years, lawmakers have created several relief programs to assist business owners and employees in these difficult times. 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.
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.
ERTC Today is endorsed by GL Digital, a Phoenix-based digital content marketer and enterprise software company dedicated to supporting small businesses. 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