Check Your Employee Retention Tax Credit Eligibility: Claim Your Payroll Refunds

by DAVIS BROWN PRC Agency

The pandemic has been hard on all of us. Small business owners were hit the hardest, but there's hope yet. With the extension of the Employee Retention Tax Credit (ERTC), you can claim payroll refunds for the employees you retained during the pandemic - and ScottHall.co is here to guide you through the process.

Go to https://scotthall.co/employee-retention-tax-credit for more information.

In response to the ongoing economic impacts of the pandemic, the American Rescue Act changed IRS regulations, making employee retention tax credits available to millions of additional businesses. ScottHall.co can make sure you secure your ERTC tax credits so that you can weather the current economic uncertainty.

In its 2020 format, the employee retention credit program provided refunds of $5,000 per employee for eligible employers. Revisions in 2021 saw this increase to as much as $21,000 per employee, calculated across the wages you have paid in Q1, Q2, and Q3.

The purpose of the employee retention tax credit is to help you keep your staff during challenging times. As ScottHall.co now points out, companies with less than 500 employees, including non-profits and startups, could qualify for the program.

While paycheck protection program (PPP) borrowers were not eligible for ERTC in 2020, the new report explains that those restrictions were removed in the 2021 guidelines. This revision has led many businesses to seek further information and assistance with ERTC applications.

ScottHall.co explains that while many business owners believe that they will have to pay back the amount they receive through the Employee Retention Tax Credit, this payment is actually a check. So, don't worry - once you get it, this money is yours. As the payment is not a loan, you can use those funds for whatever you need them.

ScottHall.co aims to assist small businesses in understanding and applying for the employee retention credit. Clients are provided with a dedicated account manager who helps them collate the necessary documents and file 941-X amended payroll returns.

A spokesperson for the company said: "Don't worry, you might still be eligible. You may have heard that PPP borrowers are not eligible. Although this was true when the bill was originally passed in 2020 but the guidelines have changed since then."

ERTC is designed to help small business owners thrive - and it can help you too. So, don't put off submitting your application.

Do you qualify for the 2021 ERTC? Click on https://employeetaxrefund.com and check your eligibility.