SAN FRANCISCO, CA / ACCESSWIRE / September 3, 2022 / The Employee Retention Credit (ERC) program is one of the last hopes for small business owners to claim new-found money within their existing business. It is also one of the most confusing and complex to figure out and calculate correctly. There are multiple ways for a company to qualify including revenue loss, shutdowns, or disruptions due to COVID-19. The problem? There are so many ERC credit rules and regulations which make it near impossible for companies to figure out on their own. Good news? Qualifying businesses can receive up to a $26,000 Internal Revenue Service (IRS) refund per W-2 employee on payroll during 2020 and 2021, and have up to three years to file amended 941-X returns to claim the ERC refund credit.
“With the Small Business Administration (SBA) COVID-19 loan programs either closed or out of funds, the Employee Retention Tax Credit (ERTC) program is one of the last hopes for small businesses to get money in the form of an ERC refund check from the IRS, but only if they qualify, and calculate their ERC credit correctly,” said Marty Stewart, Chief Strategy Officer (CSO) for Disaster Loan Advisors (DLA).
What is the Employee Retention Credit (ERC) Tax…
