Although the Employee Retention Tax Credit (ERTC) program was created in 2020 and ended in 2021, employers can still claim tax credits for wages paid during the pandemic. A new pre-qualification program launched by ERC Scope can help employers determine if they are eligible for rebates, and put them in contact with ERTC experts to maximize their tax credits.
More information about ERC Scope, the no-cost pre-qualification program, and ERTC rebates, can be found at https://ercscope.com
ERC Scope’s new program can help employers claim up to $26,000 per employee in refundable tax credits from the IRS, which never require repayment. Unlike other pandemic relief programs, such as the Paycheck Protection Program (PPP), funds claimed through ERC Scope are not a loan, and have no restrictions on how they can be spent.
Employers may qualify for the new program even if they have already received loans through the PPP, or were previously disqualified due to having too many employees. Amendments made to the ERTC program have expanded the eligibility to include almost all American SMBs, including new businesses founded during the pandemic, startups, and non-profits.
To qualify, an employer must have between 5 and 500 W-2 employees and had their business affected in some way by the pandemic. This can include closing the business due to lockdowns, restricting services because of capacity limits, or financial losses compared to the previous year. Employers may also qualify if they suffered supply chain shortages, or could not complete some tasks due to remote working conditions.
By answering a few simple questions, ERC Scope’s pre-qualification program can tell employers if they are eligible for rebates for 2020, and 2021. Eligible employers will be given the option to contact an ERTC specialist, who can determine which fiscal quarters they qualify for.
While individual rebates will vary, there is no upper limit on funding, and the program has helped employers to claim CARES Act rebates ranging from $100,000 to over $6 million. The ERTC experts will help employers to determine which wages or benefits qualify, and the maximum amount they can claim.
More information about the ERTC pre-qualification assessment for SMBs with between 5 and 500 W-2 employees can be found at https://www.ercscope.com/pre-qualification-test
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Glean News journalist was involved in the writing and production of this article.