New York,United States - April 28, 2022 /PressCable/ —
The Employee Retention Tax Credit (ERTC) program ended in 2021, with many employers unaware that they are eligible for a rebate because of amendments made to the original requirements. This new comprehensive report launched by Scott Hall explains the changes the program has gone through, and how employers can find out if they are eligible.
To read the full report about the ERTC and changes to the program, please visit https://scotthall.co/what-is-ertc-tax-credit
The new report contains important information for employers who received a Paycheck Protection Program (PPP) loan. Under the original ERTC requirements, those employers were ineligible for a rebate, but that requirement was amended when the Consolidated Appropriations Act was passed.
The new eligibility qualifications let employers claim the maximum allowable ERTC rebate even if they have already received a PPP loan. This expanded eligibility will open the door to many employers who chose the PPP over the ERTC when both programs were initially introduced in 2020.
The report explains that, unlike the PPP which provided loans, the ERTC provides tax credits or rebates which do not need to be paid back. Eligible employers can claim up to $26,000 per employee, with no restrictions on how they can spend their rebates.
Any business that was fully or partially closed because of government orders, such as a lockdown, during the pandemic may be eligible for the ERTC program. They can also be eligible if they suffered financial losses, compared to the same fiscal quarter of the previous year. Scott Hall and ERTC Today have also created a no-cost eligibility test that can be completed in about 60 seconds, available at the link below.
While there is no obligation when taking the quiz, after completing it employers will receive a link to a secure portal where they can get help from ERTC accounting professionals to complete their claim if they wish. The accountants at ERTC Today specialize in helping small businesses to claim their maximum allowable rebate.
In 2021, there were more than $1 billion in tax credits claimed by small businesses, with many employers still having their rebates unclaimed. The program is open to small and medium-sized businesses, non-profit organizations, startups, and new businesses founded during the pandemic.
To learn more about making a claim or to take the no-cost eligibility quiz, please visit https://scotthall.co/employee-retention-tax-credit
Contact Info:
Name: Scott Hall
Email: Send Email
Organization: ScottHall.co
Address: 60 West 23rd St. Suite 638, New York, NY 10010, United States
Website: https://scotthall.co
Source: PressCable
Release ID: 89073585
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