Employee Retention Tax Credit Application For PPP Recipients: 2024 Update

Employee Retention Tax Credit (ERTC) expert LP Consulting LLC has updated its consulting services to help American business owners affected by COVID-19 receive a sizable IRS refund check through the program, even if they have already received PPP loans.

According to LP Consulting LLC, many companies that received PPP loans may still qualify for tax credits under the ERTC program. The firm continues to expand its support for local restaurants, retailers, manufacturers, and other sector leaders to maximize these refunds with a simple process that takes less than 15 minutes.

More details can be found at https://get26k.com

The announcement comes in response to business owners' limited knowledge about eligibility for the program. The unprecedented stimulus allows both PPP loan recipients and non-recipients to benefit. Small and mid-sized businesses using LP Consulting’s application tool can now claim up to $26,000 per qualified W-2 employee.

Authorized under the CARES Act, the Employee Retention Tax Credit (ERTC) provides funds based on qualified employee wages and health expenses paid after March 12, 2020, and before October 1st, 2021. As it is not a loan, there are no repayment obligations or restrictions on how the funds can be used, ensuring businesses have full access to the tax credits. Initially introduced to encourage employee retention during the COVID-19 pandemic, the ERTC has expanded significantly, providing much-needed financial support to businesses navigating the challenging post-pandemic landscape.

Though the government has authorized this funding, billions will go unclaimed due to uncertainty about eligibility criteria, concerns about documentation, and a lack of awareness of the program. As LP Consulting explains, the ERTC credit amount can be up to $26,000 per W-2 employee, with full-time and part-time staff qualifying. For 2020, it was up to $5,000 per employee and rose to $7,000 per quarter in 2021. Startups operating after February 15, 2020, can also claim up to $100,000 in credits.

LP Consulting’s focus on maximizing employee retention tax credits for small business owners sets it apart from general CPA firms. After answering a few simple questions via their website, they determine eligibility. If qualified, they handle all documentation and filing with the IRS to ensure an audit-proof application.

Led by highly experienced accounting professionals, LP Consulting LLC has helped dozens of local businesses secure over $2 million in ERTC tax credits. According to the firm, recent recipients include a Florida restaurant group with 224 employees claiming over $1 million and an Illinois school with 35 employees securing $175,000.

"With billions in stimulus funds still unclaimed, our ERTC experts can quickly maximize the amount your company is entitled to," said a spokesperson for LP Consulting LLC. "We’ll prepare and guide you through filing your amended 941-X returns and diligently track the process until your credit is processed and your IRS check arrives."

Additional information on LP Consulting's ERTC tax credit claiming service is available at https://get26k.com

Contact Info:
Name: Leonard Palmer
Email: Send Email
Organization: LP Consulting LLC
Address: 3648 Gruber Rd, Monroe, Mi 48162, United States
Website: https://get26k.com/

Source: PressCable

Release ID: 89113809

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