ERC Today is a new service that assists employers obtain the Employee Retention Credit through the IRS. This is a tax benefit that allows qualifying businesses to receive a refund from the IRS. The service is available online and NAHC has partnered with ERC Today to make the process easy for employers. This company will walk you through each step and help you qualify for the refund. Using their services, you can have a successful tax return within just four to six months.
ERC with Passage of CAA Legislation
To qualify for the ERC, your business must have benefited from the COVID-19 programs. Congress loosened the eligibility rules for the ERC with the passage of the CAA legislation. However, the eligibility for ERC does not apply to businesses that took out PPP loans. In addition, a PPP loan cannot be used for the NAHC Has Partnered with ERC today to help Employers Qualify for Employee Retention Credit, so it is important to understand what you can and cannot claim.
Congress Is Loosening ERC Eligibility Requirements
You must be able to prove that you have benefited from COVID-19 programs to claim the ERC today to help Employers Qualify for Employee Retention Credit. As of CAA legislation, Congress is loosening ERC eligibility requirements. While this does not necessarily mean that your business can claim PPP loan forgiveness, you can still get an ERC. In addition, you can also claim a credit under the FFCRA (Families First Coronavirus Response Act).
Received PPP Loan Can Still Claim ERC
You can claim the ERC today to help Employers Qualify for Employee Retention Credit if you are an eligible business that benefited from COVID-19 programs. As of the CAA legislation, Congress has relaxed the eligibility criteria for ERC. For example, a business that received a PPP loan can still claim the ERC. Nevertheless, claiming the ERC is different from receiving a FFCRA credit or other types of loan forgiveness. To be eligible, your business must have received the funds from the COVID-19 programs.
Business Has Benefited From COVID-19 Programs
If your business has benefited from the COVID-19 programs, you can claim the ERC. Moreover, Congress has relaxed the eligibility requirements for ERC. For businesses with PPP loans, it is possible to claim the ERC, but this is not the same as a FFCRA credit or a FFCRA loan forgiveness. Only a business that has benefited from the COVID-19 program is eligible for the ERC.
ERC as Tax Credit
The ERC is a tax credit for businesses that have received COVID-19 funds. By using the ERC, a business can claim the credit. The ERC is a tax credit for qualified businesses, and you can claim it as a small or large business. If you’re an employer who benefited from COVID-19 funding, you can claim the ERC as a tax credit. Then, the tax credits you’ve received under the FFCRA can be used to purchase another product or service.
Employers Qualify For Employee Retention Credit
If you have benefited from the COVID-19 programs, you are eligible for the ERC today to help Employers Qualify for Employee Retention Credit. With the CAA legislation, Congress loosened the eligibility requirements for this tax credit . If your business has a PPP loan, it can claim the ERC as well. But, claiming the ERC is not the same as claiming a FFCRA credit. It is only available for businesses that have been affected by the COVID-19 virus.
ERC is Economic Stimulus that Helps Businesses Recover
In addition to claiming the ERC, businesses can also claim the credit for the COVID-19 programs. But, as of today, the ERC has more restrictions than ever before. While ERC can help a business pay off loans, it cannot be used to claim a PPP loan. It is not the same as the FFCRA credit. In addition, ERC is only available to eligible businesses. Unlike a PPP loan, the ERC is an economic stimulus that helps businesses recover from the effects of the COVID-19 virus.
Employee Retention Credit is Not Free Tax Credit
ERC Today to help Employers Qualify for Employee Retention Credit is not a free tax credit. The IRS has made it clear that this credit is only available to businesses that have been benefited by the COVID-19 programs. Besides, the ERC is only applicable to businesses that have been in operation for at least a year. In addition, there are no other restrictions to claim the credit for the COVID-19 program. So, you can claim the ERC if your business has been benefited by the COVID-19 initiatives.