The Employee Retention Tax Credit (ERTC) is Helping U.S. Daycares and Preschools

Daycares and preschools are taking advantage of the Employee Retention Tax Credit (ERTC) - an undiscovered amendment to the CARES Act - to receive needed financial relief through eligible tax refunds.

Daycares and preschools, in the US, are taking advantage of the Employee Retention Tax Credit (ERTC) – an undiscovered amendment to the CARES Act – to get much needed financial relief through eligible tax refunds.

ERTC Refund Assistance is busy helping daycare owners, in the United States, to recover from the burdensome financial losses suffered during the pandemic, by taking advantage of a recent change to the CARES Act.

The ERTC or Employee Retention Tax Credit was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, in March 2020 to help businesses keep their employees and avoid possible layoffs during the pandemic. The ERC was recently amended, greatly increasing funding amounts and expanding eligibility for U.S. businesses. Start-up and non-profit businesses are also included.

Prior to the amendment to the CARES Act, businesses were either eligible to receive the ERTC or PPP loans< but not both. Now the latest changes allow business who took advantage of PPP loans to still get tax refunds via the Employment Retention Tax Credit.

Additionally, there are no requirements to repay these tax refunds because these are refundable tax credits, not loans. Finally, there are no restrictions on how the monies are to be utilized by the business.

More information is available via https://www.ertcrefundassistance.com

The problem is very few businesses are knowledgeable about the recent changes to the CARES Act and are failing to take advantage of the Employee Retention Credit. ERTC Refund Assistance is working to inform as many daycare and preschool owners as possible about this opportunity because of the financial difficulties so many businesses had to endure during the pandemic.

The calculations to determine funding amounts and eligibility can be rather complex and may keep many businesses from taking advantage of this tax credit. ERTC Refund Assistance has a team of tax professionals who specialize in filing the required paperwork to claim these tax refunds on behalf of business owners. The actual process for claiming the ERC includes amending a businesses’ quarterly 941 form(s).

Through the Employee Retention Tax Credit, businesses, who were negatively impacted by the pandemic, are finding much needed financial relief. A spokesperson says, “Daycare, preschool, and business owners should absolutely take the time to explore the ERTC. The Employee Retention Credit was developed to help business owners to recover from the economic challenges presented by the pandemic.”

U.S. daycare, preschool, and other business owners interested in seeing if they are eligible for an ERTC refund can visit https://www.ertcrefundassistance.com

Release ID: 89065343