ERTC Program: How To Start A Claim Online
September 05, 2023 at 16:40
Carmel, Indiana based ERTC GOV is making it easy for business owners across the country to start their ERTC claim. The company was established to help small businesses navigate the complex Employee Retention Tax Credit (ERTC) process and get the highest possible funding to restore the normalcy of their operations.
The ERTC program is part of the Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act), which was signed into law on March 27, 2020. The CARES Act included two programs to assist businesses with keeping workers employed: the Payroll Protection Program (PPP), administered by the Small Business Administration, and Employee Retention Tax Credit (ERTC), administered by the Internal Revenue Service (IRS).
Where PPP funds are distributed based on 2.5 months of payroll and require that a minimum of 80% of the funds be used on payroll to be eligible for forgiveness, ERTC tax credits are credits (or refunds) for a percentage of payroll in each quarter that the business qualifies. There are specific rules for determining eligibility by quarter, and limiting the amount that can be claimed for each employee.
Claiming the ERTC tax credit through the ERTC GOV website is a simple and straightforward process. It begins with business owners answering four simple questions about the nature of their business and submitting a claims form. Once this is done, they will be given access to a private portal where they can start uploading their documents (such as 941 returns, PPP loan documents, and raw payroll data) and filling out the intake form. At this point, business owners can expect a work order agreement sent to their email for their review as they are onboarded. Once all the forms are filled and documents uploaded, the rest of the process will be carried out by ERTC GOV. Learn more about ERTC here: https://ertcgov.com/commonquestions.
It must also be noted that, unlike the Payroll Protection Program (administered by the Small Business Administration), there is actually no ‘application process’ for the Employee Retention Tax Credits. ERTC is claimed just like any other tax credit: through Form 941 Employer Quarterly Tax Filing. For prior quarters, business owners must file an amended form (the Form 941-X) to reduce their current quarter’s tax contribution and request a refund of excess credits (which is highly likely). A significant perk of ERTC is that since the tax credits can often be estimated in advance of distributing cash for payroll, business owners can file a Form 7200 to receive a cash advance to avoid waiting until the end of the quarter to apply for the refund.
ERTC GOV, says, “When the CARES Act established the ERTC program, it was meant to help small businesses across the country get back on their feet following the disruptions caused by the pandemic. However, despite it being a relatively simple program, a lot of business owners who persevered throughout the pandemic, by keeping their employees on their payroll and qualified themselves for ERTC claims, did not actually know that they qualified.”
The company continues, “We established ERTC GOV to reach out to these business owners and make them aware of the program — to make sure that they were able to secure the claims they were due. The ERTC GOV website was designed from the ground up to make things simple, straightforward, effective, and efficient. Business owners can use our website to start their claim without any issues, and we can take care of the whole process for them. Any and all questions or concerns they may have about the process can be directed to our team.”
Business owners who are looking to start the ERTC claims process can do so easily via the ERTC GOV website. The website has a variety of resources for anyone who wishes to learn more about Employee Retention Credit and programs associated with it. The firm encourages interested parties to get in touch with them directly for any questions or concerns about the process. ERTC GOV also maintains a social media presence on various platforms. Find them here: https://facebook.com/ertcgov.
For more information about ERTC GOV, contact the company here:
1950 Greyhound Pass #118-19
Carmel, IN 46033