AvailableTaxCredit.com, a tax credit consulting service based in Lutz, FL, in conjunction with Hit The Mark Media, has released resources to help small business owners determine their eligibility for the Employee Retention Tax Credit (ERTC) of the CARES Act.
Lutz, United States, Jan. 19, 2022 (GLOBE NEWSWIRE) -- These new resources are addressed to businesses employing 5 to 500 full-time W2 staff, who may be able to claim significant funds according to the provisions of the Act. These funds may be available even if they have already taken advantage of a Paycheck Protection Program (PPP) loan.
More details are available at https://availabletaxcredit.com
The announcement of the new eligibility consultation services is intended to ensure customers are aware of all potential benefits available to them from the CARES Act.
The ERTC was originally available as a 2020 credit, along with PPP loans. Many businesses chose PPP loans, and the ERTC was not widely claimed until the American Rescue Act changed IRS regulations in March 2021. These changes made millions of businesses eligible for both PPP loans and the ERTC.
In 2020, the ERTC was a refundable tax credit of half of $10,000 in wages paid for each employee between March and December 2020 by an eligible employer, or up to $5,000 per employee. In 2021, the ERTC was increased up to 70% of $10,000 in wages paid per employee during the first 3 quarters of the year, or up to $21,000 per employee.
AvailableTaxCredit.com’s application portal allows participants to securely upload tax returns, PPP loan documents, and raw payroll data. Then their accounting professionals calculate the credit available from the IRS. They also prepare and help clients file amended payroll returns. Then the IRS processes the credit and mails the client a check.
The accounting group has a track record of success in helping small business owners secure the ERTC. Their successful clients include a hair salon, a single-location pizza shop, a home healthcare staffing firm, a non-profit ESL school, and a general contractor, who have claimed up to approximately $600,000 in relief.
As with the PPP loans, the ERTC funds will run out at some point. It is recommended to make application sooner than later. Clients can find out if they’re eligible free of charge.
A satisfied client said: “When the Employee Retention Credit was included in the CARES Act, we knew we wanted help navigating the guidelines, calculations, and paperwork so we could maximize our tax credit and get everything filed correctly. We were very pleased with the services.”
Interested parties can learn more at https://availabletaxcredit.com
CONTACT: Name: Debbie Email: firstname.lastname@example.org Organization: Hit The Mark Media Address: P. O. Box 1541, Lutz, FL 33548, United States