Posted by Jeffrey Feingold on 01.20.21
Tax Point Advisors is now working with CPAs and taxpayers for Employee Retention Credits. The Employee Retention Credit or ERC was created last year as a stimulus to companies struggling due to the pandemic. A major obstacle, however, was that the ERC could not be claimed by a company which received PPP or Payroll Protection Plan funds. But the law was changed just last month. Now a company which received PPP funds may still qualify for the valuable tax credits as well. Tax Point Advisors works with taxpayers across the U.S. to determine credit eligibility and to handle all aspects of the documentation and application process. The ERC can be as high as $14,000 per employee and is refundable in excess of taxes paid. The ERC was created last year, as part of the CARES Act. Last month, however, the ERC was both improved and extended by the Economic Aid Act, making the credit worth up to $14,000 per employee, extending it through the second quarter of this year, and making some aspects of the credit applicable retroactively to last year, even if a business received PPP. TPA’s full service approach includes:
calculation of credits
compiling all required documentation
preparation of required forms
coordination with a taxpayer’s payroll processing company
Call TPA today at 800-260-4138 to discuss your free assessment.
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