All About Daily Tucson News

Local Business Staff Member Retention Credit History 2021-- ERTC Qualification Record Launched

Jun 1

ERTC Today is a tax credit consulting company that has created an online tool to assist small business owners in determining if they are eligible for 2021 Employee Retention Tax Credit.

The newly launched tool also allows participants to secure consultations to discuss their eligibility for the tax credit and the amount they can expect to receive. The ERTC doesn't have to be repaid. Any business with fewer 500 employees (both non-profits as well as start-ups) may qualify.

The tool, along with more information about the ERTC, can be found at http://localrecoveryhelp.com

This latest announcement is intended to raise awareness about the recently approved tax credit. The IRS initiated it to help small businesses maintain their staff during difficult times.

During the pandemic, many businesses have struggled with staff and supply shortages, closures, and ongoing uncertainty. Lawmakers have passed several relief programs over the past 2 years to help business owners and staff cope with these difficulties. The ERTC is one such program, introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020.

Businesses could be eligible for relief if they had to suspend or complete their normal operations in 2020 or 2021 because of a government order. This applies if they engaged in trade or business during these years and their employers were operating during the qualifying year.

Refunds may range up to $28,000 per employee, regardless of whether the business owner has previously received assistance from the Paycheck Protection Program (PPP). Many businesses had previously chosen the PPP. However, IRS regulations have made it more accessible to all businesses.

GL Digital, a Phoenix-based digital content marketing company and enterprise software provider dedicated to small business support, endorses ERTC Today. GL Digital offers small business resources such as tax consultation and advice on domain names, social media management software, webinar tools and video hosting platforms.

Interested parties can find more details at http://localrecoveryhelp.com