ScottHall and ERTC Today have launched an updated eligibility quiz and application process to help small business owners and nonprofits pre-qualify for employee retention credit discounts.
New York, U.S., Feb. 26, 2022 (GLOBE NEWSWIRE) —
With the recently announced quiz, employers can find out in a minute or even less if they qualify for a rebate under the Employee Retention Tax Credit (ERTC) program.
More information is available at https://scotthall.co/employee-retention-tax-credit
With only 8% of business owners claiming their tax credits in 2020, there are billions of dollars in rebates waiting to be mailed. The updated quiz requires no proprietary business information and is available to small and medium business owners, start-ups, and non-profits.
According to the results of a recent survey, only 4% of business owners were very familiar with the ERTC program, while 32% were somewhat familiar with it. The mechanism has undergone several rounds of changes since its initial rollout and over time eligibility has been expanded. Now, companies can be eligible if they have up to 500 full-time employees on average, as well as if they are a start-up or non-profit organization.
Employers who previously received funds through the Paycheck Protection Program (PPP) are also now eligible for ERTC, although they were not when the programs were first introduced. The only restriction is that employers cannot claim tax credits for wages paid using PPP loan funds.
If a company has already filed its documents for 2020 and/or 2021, it can still claim its tax credits retroactively. This can be done by filing a Form 941-X to make a change to their request, or by contacting an ERTC specialist.
Changes to the ERTC program have also included increases to the maximum amount a business can claim. In 2020, reimbursements could be requested for up to 50% of employees’ wages, to a maximum of $5,000 per employee, per quarter. In 2021, the maximum was increased to 70%, or a maximum of $7,000 per employee, per quarter.
The ERTC Eligibility Questionnaire is available without obligation and once completed, employers will be able to schedule a free consultation with an ERTC specialist. The consultation will help them determine how much they can claim and if they can be prequalified for reimbursement.
To take the 60-second eligibility quiz, go to https://ertcquiz.com/video
CONTACT: Name: Scott Hall Email: [email protected] Organization: ScottHall.co Address: 60 West 23rd St. Suite 638, New York, NY 10010, United States