With many businesses struggling to keep their doors open over the last few years, the federal government created new incentive programs. While most business owners are aware of the Payroll Protection Program (PPP) and millions enrolled in 2020, many employers have not yet submitted an updated application for their Employee Retention Tax Credits (ERTC).
To learn more about ERTC, please visit https://evolvederc.com/application/?partner=carlosacosta
The incentive programs have gone through several changes since they were originally introduced, including having their deadlines extended and then shortened. The new application process from ERC Evolved allows employers to submit their paperwork and fill out a short form to get their claim filed as soon as possible.
Due to some of the more recent changes to the ERTC program, many employers have been filing in recent months, and the wait time to receive funds has been increasing. While the wait time at the beginning of the program was a few weeks, it has now been extended to a few months and is expected to become longer as more businesses apply in the coming weeks.
One of the most important changes to the ERTC program was passed with the Consolidated Appropriations Act at the beginning of 2021, which made amendments to the CARES Act. Before this amendment, employers were only eligible to apply for either the PPP or the ERTC program, and most employers applied for PPP as it offered more immediate benefits.
Now that employers who enrolled in the PPP program are also eligible for ERTC, the program has been seeing a record number of applicants, with more businesses applying every day. To determine a company’s eligibility, business owners are advised to speak with an ERTC specialist. In most situations, employers qualified for PPP will also qualify for ERTC.
ERC Evolved offers employers the additional benefit of rewarding their employees, at no additional cost to themselves. The company uses 5% of its own fees in a rewards program that allows employees to donate to a charity of their choice. Employers can offer this benefit to their employees as a gift from their company.
The ERTC program officially ended on September 30, 2021, but employers can still file for wages paid before that time. Businesses that have already filed can make an amendment to their claim to retroactively enroll in the program.
For more information or to submit an application, please visit https://evolvederc.com/application/?partner=carlosacosta
Evolved Profits Partner
Evolved Profits Partner
4 Tulip Lane
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No The Daily News Journal journalist was involved in the writing and production of this article.