ERC/ERTC 2023–How to Get Your Tax Refund Fast
You May Be Eligible for Up To $26,000 per W2 Employee—Even if You Got PPP—But Only for a Very Limited Time!
Start FREE! Pre-Apply Today in 15 Minutes. Get Your Check in Weeks, Not Months!
The Employee Retention Credit (ERC) program—technically called the Employee Retention TAX Credit (ETRC), but both terms are now used interchangeably—was another special financial relief program (in the vein of PPP) provided by Congress for US businesses.
The goal was to incentivize operations of all types and sizes to retain employees during the COVID-19 pandemic by offering tax credits which would come in the form of refunds. Unfortunately, most businesses either didn’t hear about the program in time or found the program so confusing to apply for, that it got forgotten. Then, in 2021, the program sunsetted.
However, there is really great news! Congress has re-extended the tax credit through 2023, meaning that many businesses which did not or could not participate in the program now have a second chance. And it’s not to be missed! You can get as much as $26,000 per W2 employee.
Get Your Fair Share
Businesses across the USA are recouping tens of thousands, hundreds of thousands and even millions of dollars (the big market chain Kroger, for instance, is reported to have gotten $21 million from the ERC/ERTC). This program is no joke and as it only takes a few minutes of your time to see if you qualify, it’s about as close to a no-brainer as you’re ever going to see.
As you might expect, though, there is a catch; the program ends soon, so if you want to find out if you qualify, you need to ACT ON THIS NOW! Read on for more info about how we can help you get qualified today, in just a matter of minutes. But if you can’t wait, just click the button below to be taken to the CPA firm we’re working with. Applying will only take a few minutes, and the process is 100% FREE.
More On the ETC/ETRC Program
The ETRC credit has been made available to businesses that were adversely affected by the COVID pandemic. The payouts are intended to offset payroll taxes. It’s like a cash bonus for keeping employees on the payroll during the bad old days of 2019, 2020 and 2021.
As you may know, the Paycheck Protection Program (PPP) was introduced to provide small businesses with loans to help them retain their employees The ETRC provides another avenue for businesses to access financial support earned during these trying times. Businesses that received PPP loans may also be eligible to receive the ETRC, which can provide up to $26,000 per W2 employee.
Unfortunately for many companies which use contractors or freelancers, 1099 “employees”/workers do not qualify. Similarly, if you’re a solopreneur, you’re out of luck.
Are You Eligible for the ETRC?
To be eligible for the Employee Retention Tax Credit, businesses must meet certain criteria.
• First, they must have experienced a significant decline in gross receipts during the pandemic. Specifically, your business must have experienced a decline of at least 50% in gross receipts during a calendar quarter compared to the same quarter in the previous year.
Alternatively, businesses that were fully or partially shut down by government order may also be eligible for the credit.
• Second, businesses must have retained their employees during the pandemic, even if their operations were limited or suspended. Businesses that furloughed or laid off their employees may still be eligible for the ETRC if they rehired those employees before the end of 2020.
The ETRC provides businesses with a tax credit equal to 70% of the qualified wages paid to employees, up to a maximum of $10,000 per employee per quarter. This means that businesses can receive up to $7,000 in tax credits per employee per quarter, or up to $26,000 per employee for the entire year.
PPP is Over, But You Can Still Collect With ETRC, Even in 2023!
Importantly, businesses that received PPP loans are eligible for the ETRC. However, businesses cannot claim the ETRC on wages that were paid for with PPP loan proceeds. This means that businesses must carefully track which wages were paid for with PPP loan proceeds and which wages were paid for with other funds.
One of the reasons many businesses failed to take advantage of ETRC back in 2020 was the time and complication involved in applying. Most small business owners and harried managers simply didn’t have the time to fight their way through the complex rules and procedures in order to even apply for ETRC.
Recoup Your Pandemic Losses
Overall, the ETRC provides an important financial lifeline for businesses that have been adversely affected by the COVID-19 pandemic. By providing a tax credit for businesses that retained their employees, the ETRC has incentivized businesses to keep their employees on payroll, which in turn helped stabilize the American economy.
Businesses that received PPP loans should carefully consider whether they are eligible for the ETRC. Kroger received over $25 million dollars in tax refunds, and you may be missing out on a sizable return if you let this opportunity pass you by.
Apply for the ERC/ERTC Today!
We strongly urge you to take advantage of this valuable program. Let it do what it was intended to do. That being, help you recover from the severe economic challenges posed by the COVID-19 pandemic and subsequent economic downturn.
Let us point you toward a top-notch CPA firm which will do all the paperwork 100% FREE. All you have to do is apply, and the initial pre-qualify will only take a few minutes of your time. Can you afford to pass up an opportunity to get as much as $26,000 per W2 employee?
Here at WMS, we are representatives for the #1 ERC/ERTC firm in the USA. Contact us if you have questions or concerns; we’re happy to help. Or, you can simply jump ahead to the 15 Minute Refund™ to pre-qualify. It literally only takes a few minutes of your time to determine if you’re likely to get your tax refund. At that point, if things look good and with your approval, the process of securing your tax refund will begin 100% FOC (free of charge). Our dedicated experts will go the extra mile to ensure you receive the maximum credit, as we don’t get paid if you don’t get paid. In the end, you ONLY pay a fee if and when your funds are on the way!
REFERENCES
IRS – Employee Retention Credit
Treasury Dept – Employee Retention Tax Credit: What You Need to Know
SHRM – There’s Still Time to Claim the Employee Retention Tax Credit