Employee Retention Tax Credit | Small Business Claim Assistance Program Launched
Dec 11, 2022
National CPA firm LP Consulting is announcing the launch of a new awareness campaign designed to educate owners of startups and small and mid-sized companies about the Employee Retention Tax Credit program and help them claim what often amounts to thousands of dollars they’re owed.
Monroe,United States - December 11, 2022 /NewsNetwork/ —
Every year, small and mid-sized businesses leave millions of dollars owed to them on the table because they weren’t aware they were entitled to certain tax credits. A newly launched awareness program at LP Consulting, LLC aims to educate business owners about the monies they’re owed by the government through the Employee Retention Tax Credit program, and explains how business owners can maximize their claims. The service is not a loan and does not impose upfront fees.
More information is available at https://get26k.com
In 2020, Congress enacted the Employee Retention Tax Credit as an incentive for employers to retain their employees during the COVID-19 pandemic. The credit has since evolved from the CARES Act to become the American Rescue Plan Act (ARPA). The retroactive deadline has also changed from January 1, 2022, to October 1, 2021. A newly launched program at LP Consulting LLC aims to communicate these opportunities to SMEs entitled to these tax breaks and help them understand the process.
Tax credits that businesses are entitled to are based on qualified employee wages and health plan expenses paid after March 12, 2020, and before October 1, 2021. While the program was created as part of the CARES Act along with the PPP loans, this credit is not a loan. There are no restrictions around how recipients of the credit use their funds.
In 2020, a refundable tax credit of up to $5,000 per employee between March 12, 2020, and December 31, 2020, is available to eligible employers. In 2021, the ERC increased to $7,000 per employee over, Q1, Q2 and Q3, amounting to a potential $26,000 in refundable tax credits per employee.
Startup businesses that began operations after February 12, 2020 can take a credit of up to $50,000 in both Q3 and Q4 2021 to yield a maximum credit of $100,000.
An LP Consulting CPA says, “We help small and mid-sized businesses access the maximum amount of refundable credits they’re due. We also include audit-proof documentation for IRS support. Too many companies are entitled to what’s essentially thousands of dollars of free money, and they don’t even know it.”
With the launch of their awareness program, the CPAs at LP Consulting have so far helped a range of organizations, including business consultants, design agencies, restaurants and restaurant groups, and even a Montessori School maximize their refundable credits.
Learn more at https://get26k.com
Contact Info:
Name: Leonard Palmer
Email: Send Email
Organization: LP Consulting LLC
Address: 3648 Gruber Rd, Monroe, Mi 48162, United States
Website: https://get26k.com/
Source: NewsNetwork
Release ID: 89086306
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