The Employee Retention Tax Credit (ERTC) program has been expanded several times since it was first announced. Even though it ended in September 2021, employers may still be eligible for up to $26,000 per employee in tax refunds. This updated pre-qualification program from ERC Scope can help business owners discover if they qualify, using the answers to 5 simple questions.
More information about the expanded ERTC, the 5 question pre-qualification, or how to complete a claim can be found at https://www.ercscope.com/pre-qualification-test
After completing the pre-qualification assessment, eligible employers will be offered a no-cost consultation with an ERTC expert. The consultations carry no obligation and can help employers to determine the highest amount they may be eligible to receive, and the steps required to claim the maximum rebate.
While there have been several other pandemic relief programs, the ERTC uses a different approach that does not provide loans or deferrals. Rebates claimed through ERC Scope are reimbursement for wages employers already paid in 2020 and 2021. They never require repayment and have no restrictions on how they can be spent.
The pre-qualification and consultations are available to any business owners that had between 5 and 500 W-2 employees on the payroll during the pandemic, regardless of their business type. This can include new businesses founded during the pandemic, startups, and non-profit organizations, such as churches, schools, and performing arts centers.
ERC Scope can also help business owners to claim rebates if they have already enrolled in the Paycheck Protection Program (PPP), or if they were only eligible for part of the program’s duration. The ERTC team can help employers to work quarter by quarter to determine which they are eligible for, how PPP loans will affect their rebate and the maximum amount they can receive.
With no upper limit on funding, the average small business has been claiming rebates of approximately $150,000, while some business owners have been able to claim upwards of $2 million.
After confirming their eligibility, employers may choose to have their claims completed by the ERC specialist team, to ensure they receive the maximum allowable refund. The program has helped over 20,800 businesses to qualify to date, with more applying every day.
More information about claiming pandemic relief funds in 2023, ERC Scope, and the no-cost pre-qualification, can be found at https://www.ercscope.com
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Edition Biz journalist was involved in the writing and production of this article.