Scotthall and ERTC TODAY have launched an updated eligibility quiz and application process to help small business owners and nonprofits pre-qualify for the Employee Retention Credit Waiver.
NEW YORK, United States, February 26, 2022 (Globe Newswire) —
With the newly announced quiz, employers can find out in a minute or less whether they’re eligible for exemptions under the Employee Retention Tax Credit (ERTC) program.
More information https://scotthall.co/employee-retention-tax-credit . available on
Only 8% of business owners claimed their tax credits in 2020, with billions of dollars in rebates waiting to be mailed out. The updated quiz does not require any proprietary business information and is available to small to medium-sized business owners, start-ups and non-profit organizations.
According to the results of a recent survey, only 4% of business owners were very familiar with the ERTC program, while 32% were somewhat familiar. The system has gone through several rounds since its initial rollout and over time, the eligibility has been expanded. Now businesses may qualify if they have an average of 500 full-time employees, as well as if they are a start-up or non-profit.
Employers who previously received funding through the Paycheck Protection Program (PPP) are now eligible for ERTC as well, although they were not when the programs were first introduced. The only restriction is that employers cannot claim tax credit for wages paid using funds from PPP loans.
If a business has already filed their paperwork for 2020 and/or 2021, they can still claim their tax credit retrospectively. This can be done by filling out Form 941-X or by contacting an ERTC specialist to amend their claim.
Changes to the ERTC program also include an increase to the maximum amount a business can claim. In 2020, an exemption of up to 50% of employee pay can be claimed, up to a maximum of $5,000 per employee, per quarter. In 2021, the maximum was raised to 70%, or up to a maximum of $7,000 per employee per quarter.
The ERTC Eligibility Quiz is available without obligation, and upon completion, employers will be able to schedule a complimentary consultation with an ERTC specialist. The counseling will help them determine how much they can claim, and if they can pre-qualify for an exemption.
To participate in the 60 Seconds Eligibility Quiz, visit https://ertcquiz.com/video . go to
Contact: Name: Scott Hall Email: [email protected] Organization: ScottHall.co Address: 60 West 23rd St. Suite 638, New York, NY 10010, USA