May 10, 2023 at 16:38
The U.S. government has expanded the Employee Retention Tax Credit (ERTC) program to include PPP recipients as eligible businesses in response to the ongoing COVID-19 pandemic. This expansion provides much-needed financial relief and support to small to medium-sized businesses across various industries affected by the pandemic.
The ERTC program offers refundable tax credits to businesses impacted by COVID-19, helping them retain employees and maintain wages. With the recent expansion to include PPP recipients, more businesses can now access this essential program and benefit from its support.
The ERTC program expansion comes when many businesses struggle to maintain operations and keep their employees on the payroll. By offering financial support and flexibility, this program helps companies retain their workforce and continue providing essential customer services.
To qualify for the ERTC program, eligible businesses must have experienced a significant decline in gross receipts or been subject to a full or partial suspension of operations due to government orders related to COVID-19. The tax credit amount varies based on the number of employees and the wages paid during the qualifying period.
The recent expansion of the ERTC program to include PPP recipients offers a lifeline to businesses struggling to maintain operations and keep their employees on the payroll. By accessing this program, businesses can benefit from the financial support that will enable them to continue serving their customers and communities in these difficult times.
James Pemberton, CEO of Engaged Headhunters, said, "This expansion is critical to helping businesses keep their employees on payroll during these challenging times. We are grateful for the government's continued efforts to support businesses like ours and help us weather the pandemic storm."
With the ERTC program now available to PPP recipients, businesses of all types and sizes can access the financial relief needed to weather the pandemic and emerge stronger on the other side. The program is essential for businesses seeking to maintain operations, retain employees, and continue serving their communities.
The ERTC program is important for businesses navigating the ongoing COVID-19 pandemic. By providing financial relief and support, this program helps companies to maintain operations, retain employees, and continue providing essential services to their customers.
In addition to the ERTC program, businesses affected by the pandemic can access other government assistance forms, such as PPP, Economic Injury Disaster (EIDL), and Small Business Administration (SBA) programs.
For more information about Engaged Headhunters, contact the company here:
249 Central Park Ave. Suite 300-90, Virginia Beach, VA, 23462