Deadline Approaches for Employee Retention Tax Credit (ERTC) Refunds: Businesses Must Act Now!

MIAMI - Jan. 2, 2025 - PRLog -- Business owners across the United States are urged to act quickly to claim their Employee Retention Tax Credit (ERTC) refunds before the program's application window closes in April 2025. This federal initiative, designed to help businesses recover from the financial impact of the COVID-19 pandemic, offers eligible businesses significant financial relief. However, time is running out to file for these valuable refunds.

The ERTC was established under the CARES Act in 2020 and later expanded and extended through additional legislation. It provides refundable tax credits to businesses that retained employees during the pandemic despite experiencing significant disruptions or revenue losses. The refundable credits are based on qualified wages paid to employees, with eligible businesses potentially receiving up to $26,000 per employee.

April 15, 2025, marks the final date to retroactively claim the credit for the 2020 and 2021 tax years. This means businesses have just a few months left to gather documentation, determine their eligibility, and submit the necessary filings to claim their refunds.

"Many businesses are still unaware that they qualify for the ERTC or underestimate the potential refund amount," said Paul Schaverien, of ERTC Express. "Even if your business received a Paycheck Protection Program (PPP) loan, you may still be eligible for the ERTC. It's crucial to review your records and file before it's too late."

To qualify for the ERTC, businesses must meet certain criteria, such as demonstrating a significant decline in gross receipts during eligible quarters or facing a government-mandated shutdown. Nonprofits and tax-exempt organizations that retained employees during the pandemic may also be eligible.

With the deadline fast approaching, experts recommend that businesses act now to maximize their potential refunds. The process involves reviewing payroll data, calculating eligible wages, and submitting amended tax returns. While the IRS has streamlined certain aspects of the process, businesses must still ensure compliance with program guidelines to avoid delays or issues.

To assist businesses, many accounting firms and ERTC specialists offer services to guide applicants through the process. "Time is of the essence," emphasized Paul Schaverien. "Waiting until the last minute could result in missed opportunities or delayed refunds due to processing backlogs."

Business owners are encouraged to visit https://portal.ertcexpress.com/qualify/paulsch and fill out the simple online eligigibility form (2 minutes) and then consult with one of our qualified tax professionald to determine their eligibility and begin the application process.

Don't miss this opportunity to claim the financial relief your business deserves. The ERTC refunds have provided a lifeline to thousands of companies across the country. Make sure to meet the April 2025 deadline to secure your refund and strengthen your business's future.

For more information, contact: https://portal.ertcexpress.com/qualify/paulsch