Small business employers who were financially affected by lockdowns, government orders, or lack of customers because of the pandemic are eligible for federal relief funds through the Employee Retention Tax Credit program. The new application process launched by Media Retina maximizes employers’ claims. —
To learn more about the 15-minute application process, please visit https://ertcpayout.com
Created in 2020, the ERTC program was originally not open to employers who enrolled in the Paycheck Protection Program (PPP,) but that was amended in 2021 with the passing of the Consolidated Appropriations Act. The recently launched application process is available for employers even if they have already received funds through the PPP.
Unlike the PPP, ERTC funds are not a loan and do not need to be repaid. There are also no restrictions on what business owners can do with the funds received through the ERTC program.
To begin the application process, employers can answer a few non-invasive questions that ask for no proprietary business information, which will help Media Retina CPAs to determine if they are eligible. Eligible employers will receive a link via email to a secure application form, where they can complete the process.
After completing the questionnaire, employers will be asked to upload their 941 returns, PPP loan documents, and raw payroll data to a secure server. Specialized accountants will use that data to calculate the maximum credit employers can claim, and create a 941-X form that can be filed to complete the process.
Employers may be eligible for as much as $5,000 per employee, per quarter for wages paid in 2020, and $10,000 per employee, per quarter for wages paid in 2021. Startups, non-profit organizations, and new businesses are also eligible for credits.
The American Rescue Plan Act also added eligibility for Recovery Startup Businesses, which includes any business which was started after February 15, 2020, and is not eligible for credits under the original requirements. These employers may be eligible for up to $50,000 per quarter if they averaged less than $1 million in gross receipts.
For more information about ERTC or to begin a 15-minute application process, please visit https://ertcpayout.com
Release ID: 89065737