ERC Tax Rebate Application | Form 941 Employee Retention Credit Service Updated

Your ERTC Solution’s latest launch provides pre-qualification and application support for businesses whose operations have been adversely affected by government-ordered shutdowns and supply chain issues. Employers can get the expert help they need to simplify the process of claiming financial aid from the IRS.

The announcement outlines the expanded eligibility criteria for ERTC compensation. Previously, businesses that had taken out PPP loans were disqualified from applying for the Covid Tax Credit. However, subsequent amendments to the program allow any private-sector business or tax-exempt organization – including churches and schools – that experienced a decline of 50% or more in gross receipts during 2020 or of 20% during a calendar quarter in 2021 compared with the same quarter in 2019 to make a claim.

The ERTC was first rolled out as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act which was written into law by President Trump in March of 2020. This legislation injected $2.2 trillion into the US economy to shore up jobs and support businesses affected by public lockdowns.

With its latest service updates, continues to help make claiming federal financial aid swift and simple for businesses across the US.

Businesses can easily find out how large a refund they are eligible for as part of the program by filling out a short form on the website. Qualified applicants are now able to claim back 70% of up to $10,000 in wages per employee for quarters 1 to 3 of 2021. Retroactive claims can also be made for 50% of wages, up to $5,000 per employee for 2020. Together that is a potential of up to $26,000 per W-2 employee – for both full- and part-time employees.

After an evaluation of their initial application, businesses will be given access to a secure web portal where they can upload the necessary documents which includes their 2019 Form W-3, their raw payroll data, 941 returns, and PPP loan documents. This data will be verified and then the file will be reviewed by two separate CPAs. If their calculations do not agree down to the penny, they go back to find the discrepancy. Only when they are in complete agreement is the credit ready to be filed. The company also helps clients prepare and file their amended 941-X payroll returns. Once the amended return has been filed, applicants will receive a check directly from the IRS. Customers also benefit from audit-proof documentation for any future IRS inquiries. If during the process it is found that a business does not qualify for this credit, there will be no charge for the evaluation. About 85% of businesses who apply qualify for a tax refund and that refund averages about $150,000 but can range well into 7 figures.

A satisfied client says, “To date, we have received almost $80,000 and we have more coming. I advise anyone to just reach out to see if it works for you also.”

For more information, please visit Employee Retention Credit and PPP.

Your ERTC solution

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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.