In response to an expansion of the Employee Retention Tax Credit (ERTC) eligibility requirements, ERC Scope has made several updates to its fast eligibility assessment and application service for small and medium-sized businesses.
More information about changes to the program requirements, the maximum allowable rebates, and a no-cost eligibility assessment can be found at https://www.ercscope.com/pre-qualification-test
With the latest updates, nearly any employer can qualify for ERTC rebates as long as their business was negatively affected by the pandemic in some way, and they had between 2 and 500 W-2 employees on the payroll. Business owners can also qualify if they have already claimed rebates for 2020, or if they have enrolled in the Paycheck Protection Program (PPP).
Originally, employers could only benefit from either the PPP or the ERTC but not both, but changes to the program have allowed any employer to enroll in both programs with no penalties, as long as they meet the ERTC guidelines. Unlike the PPP however, rebates claimed through ERC Scope are not a loan or deferral, never require repayment, and have no restrictions on how they can be spent.
Businesses may be able to qualify for as much as $26,000 per employee, with no upper limit on funding. While the average small business rebate is approximately $150,000, this has allowed some employers to claim as much as several million dollars in rebates.
A spokesperson explained, “ERC is a government stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit – that you can claim for your business.”
To ensure that all business owners are able to complete a claim before the deadline, the eligibility test has been made available at no cost, with no obligation, to any US-based employer. To further help any business which may still be struggling, the program allows applications to be completed with no up-front fees, so no business is required to pay until after they have received their rebate in the mail.
While this program is optimized for small to medium-sized businesses, it is open to any organization that may be eligible for an ERTC rebate, including startups, non-profit organizations, and new businesses founded during the pandemic.
More information about the deadline for ERTC claims, the fast application service, and the no-cost eligibility assessment can be found at https://ercscope.com
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