ERTC Qualification Guide: How Small Businesses Can Claim Before 2025 Deadline

What Is the Employee Retention Tax Credit?

The ERTC program allows eligible employers to claim up to $26,000 per employee for wages paid between March 13, 2020, and September 30, 2021. This valuable tax credit was designed to help businesses that were impacted by COVID-19 - and while many business owners mistakenly believe they don't qualify, especially if they received a Paycheck Protection Program (PPP) loan, the truth is, you can claim both—but the same wages cannot be used for both programs.

Get the full details at https://herosertc.com/employee-retirement-credit-how-to-calculate-and-claim-it/

Why You Need to Act Now

The clock is ticking on your potential tax refund:

• The IRS currently faces a backlog of 1.2 million ERC claims.
• Many applications have been pending for over a year.
• The statute of limitations for 2021 ERTC claims expires on April 15, 2025.
• Once this deadline passes, you permanently lose your right to claim these credits.

Do You Qualify for the ERTC?

Your business may qualify if you experienced either of these:

• Full or partial suspension of operations due to COVID-19 restrictions
• Significant revenue decline during eligible periods

For small businesses with fewer than 500 employees, there are additional benefits. During 2021, small employers could claim the credit even if they remained fully operational—provided they experienced a 20% decline in gross receipts.

Steps to Claim Your ERTC Before the Deadline

• Determine Your Eligibility: Start with a preliminary assessment of your business operations during the qualifying periods. This will help identify if you meet the basic ERTC requirements.
• Calculate Your Potential Credit: Based on your employee count and eligible quarters, you can estimate your potential tax credit amount. Remember, this could be up to $26,000 per employee!
• Gather the Required Documentation: The ERTC application requires specific documentation—quarterly tax returns, payroll records, and evidence of business impact from COVID-19
• Ensure Accuracy in Your Calculations: Errors in calculations can trigger IRS reviews or reduce your credit amount. Verify all calculations before submission to maximize your benefit.
• Submit Well Before the Deadline: With the IRS backlog, starting the process at least 3 months before the deadline is recommended to allow for proper documentation collection.

How Heros ERTC Can Help

Heros ERTC specializes in guiding businesses through the ERTC application process. Their expanded documentation support services help manage IRS backlogs and secure eligible credits before time runs out.

Their approach? A strong focus on accuracy and compliance to reduce audit risk, ensuring all materials meet IRS standards before submission.

Don't leave money on the table! Check if your business qualifies for this valuable tax credit today at https://herosertc.com/employee-retirement-credit-how-to-calculate-and-claim-it/