In 2021, when the Infrastructure Investment and Jobs Act was passed, it retroactively ended the Employee Retention Tax Credit (ERTC) program, but business owners can still apply for rebates. The new eligibility assessment launched by Ulrich GNB Consulting can determine if a company qualifies for tax credits using the answers to 10 simple questions, requiring no proprietary business information.
For more information about the ERTC, or the eligibility assessment, please visit https://www.ertcclaim.us
Though the ERTC program went mostly unused because of the popularity of the Paycheck Protection Program (PPP), it is now possible for companies to enroll in both relief programs, instead of just one. The new no-cost, no-obligation assessment takes approximately one minute to complete, and is available to all small and medium-sized business owners, even if they have already received a PPP loan.
While the PPP was the dominant relief program for small businesses in 2020 and 2021, the ERTC has several benefits that were not available when the program was launched. Unlike the PPP, ERTC rebates have no restrictions on how they can be spent, and never need to be repaid.
The program has had its eligibility expanded to include most small and medium-sized American businesses, including non-profit organizations, startups, and new businesses founded during the pandemic. New businesses may be eligible for up to $100,000 in rebates if they have gross receipts of less than $1 million, and at least one employee who is not a family member or 50% owner.
Established businesses with 500 or fewer full-time employees on average can be eligible for up to $26,000 per employee. To qualify, the business must have suffered financial losses during the pandemic or had to close temporarily because of government orders, such as lockdowns.
Some businesses may also qualify if they remained open but had to operate at a reduced capacity. Common examples include companies that suffered from supply chain problems and restaurants that offered limited seating, or takeout only.
To apply for rebates, employers can enroll in the 15 Minute Refund program after taking the eligibility assessment, and an ERTC specialist CPA will help them complete the paperwork. The program guarantees every company their maximum allowable rebate and includes audit-proof documentation drawn up by the expert CPA team.
To learn more about the 15 Minute Refund program, or to take the eligibility assessment, please visit https://www.ertcclaim.us
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Kolkata Local journalist was involved in the writing and production of this article.