Is Your Business Eligible to Receive Up to $26,000 Per Employee?

Get Cares Act Tax Credit got its start when Founder Amy Blain noticed a growing need for Helping Small Businesses Recover Their Cares Act Tax Credit.

Blain explained, "Since many companies who qualified for a PPP loan got one when they first came available, they assume they couldn't take advantage of the Employee Retention Tax Credit because originally they could only request one or the other. On March 1, 2021, the IRS updated guidance to allow businesses to participate in both the PPP and the ERTC. But most businesses don't know this."

The ERTC is not a loan, it's a cash payout that goes via direct deposit to the company's bank account. And since it's not a loan, but a credit similar to what individuals received as a stimulus check, it won't have to be paid back and there are no restrictions as to how it's used.

To find out if the company qualifies for a tax credit, owners can fill out a simple form with basic information such as their contact information, their number of W-2 employees in 2020 and 2021, and if they operated under a full or partial shutdown order in their state during the pandemic. Once input, their representative at the CPA firm will be in touch requesting the full paperwork required to file the claim.

There are no upfront fees to learn if a company is qualified to receive a tax credit. Funded by the Cares Act, these credits were designed to reward businesses that retained their employees during COVID-19. Businesses can receive up to $26,000 each for up to 500 full-time employees and an unlimited number of part-time employees even if they received a PPP loan already. The company requires a minimum of 5 W-2 employees per year (2020 & 2021).

There is also an option for businesses to get their money sooner than the normal 6 to 12 month time-frame that the IRS normally takes to issue the tax credits. It reduces the amount of time to under 6 weeks through a financial partnership that has been developed by the company.

Blain continued, "A restaurant with 224 W-2 employees received a $1,120,000 credit, a hotel with 383 W-2 employees received a $620,416.97 tax credit and a church with 30 W-2 employees received a $30,782.22 tax credit. There's also an option for business people to refer other businesses and earn a commission for doing so," she continued. If interested, potential referrers can request more information at https://getcaresacttaxcredit.com/refer-your-clients-to-us

The Get Cares Act Tax Credit Tax recovery experts service is now available to help small and medium sized businesses get their tax credit from the US government. To find out more about Cares Act Tax Credit and their service, visit https://getcaresacttaxcredit.com

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Created on Aug 22nd 2022 02:12. Viewed 130 times.

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