Local businesses had to close down as they could not work due to the outbreak of the world virus. The challenges facing the COVID-19 pandemic were how to stay open, and how to pay your employees?
Coronavirus Aid, Relief, and Economic Security
If you are looking for a way to help your company and your employees, this is a good way to go. It is called the Employee Retention Tax Credit and is available to businesses.
The ERTC program is a grant that provides money to businesses for 2020 and 2021. The program is refunded on employee W-2 quarterly tax returns.
The PPP Program, Paycheck Protection Program was a loan.
Some or all of the loan was forgiven. This program was a loan and depending on the nature of the grant, the loan will be repaid with interest.
If you are applying for a small business ERTC grant, you will have to submit a complete application with all of the required documentation. Unfortunately, there are many applications that are not awarded as they do not have all of the necessary paperwork. This is why it is important to take the time to ensure that you have all of the documentation.
The fact that only a few hundred have unawarded grants doesn’t necessarily mean they were turned down. They may be waiting for the amended return to be prepared properly.
This is why an expert at filing ERTC should prepare your grant request.
If you have the right specialist to do your business a favor by reviewing and formatting it, you can get the grant you need to invest in your business. The cost of having it reviewed is minimal compared to the amount of money you will be getting.
Check out this link for more information: www.2020businesstaxcredit.com