BOWLING GREEN, KY / ACCESSWIRE / March 7, 2023 / Hughes & Coleman ERTC team is dedicated to helping businesses who may be owed significant tax credits due to the CARES Act established during the COVID-19 pandemic. If your business retained employees through COVID shutdowns, your business could be eligible for a tax refund of up to $26,000 per employee.
"Deadlines for small businesses in 2023 are ramping up, and we're here to help hardworking businesses get the money they are owed by the government," said Lee Coleman, Attorney and Founder Partner, Hughes & Coleman Injury Lawyers. "Let us help you through the ERTC program complexities so you can obtain your credits and maximize your refund as quickly and easily as possible before the deadline."
Hughes & Coleman offers free consultations 24/7 to see if your business qualifies for the ERTC credit of up to $26,000 per employee. There are no costs involved or obligation to check to see if a business qualifies for the ERTC credit.
Congress developed the CARES Act to help businesses secure employment for their workers and keep them on the payroll during COVID-19-related shutdowns. The ERTC was intended to incentivize employers to retain workers by offering a quarterly credit for each qualified employee on the payroll during that time. As a federal stimulus program, ERTC is not a loan; the money received is distributed directly from the IRS and does not have to be repaid.
ERCT Qualifications
Your company may qualify for the ERTC of up to $26,000 by employee by showing either:
- A full or partial suspension of operation during any calendar quarter because of governmental orders limiting commerce, travel or group meetings due to COVID-19, OR
- Your business experienced a 50% quarter-over-quarter decline in revenue compared to the same quarter in 2019.
- In Q4 of 2020, you experienced a decline in gross receipts of 50% from the corresponding quarter in 2019 or less than 80% of gross receipts in the preceding quarter.
- All 3 quarters in 2021 are eligible to use the 80% gross receipts test versus the preceding quarter or the corresponding quarter from previous year instead to 50% drop in gross receipts, refund up to 70% of $10,000 per employee.
Even if businesses made money during the COVID-19 pandemic, compensation is still possible. Businesses across a wide range of industries, including education, government contractors, healthcare, hospitality, retail, restaurants, industrial, not-for-profit, professional services, real estate, construction, and technology, plus more may be eligible for ERTC. The types of instances that would qualify companies for the ERTC are supply chain disruptions, time taken away for sanitation or cleaning, limited capacity to operate, and other federal, state, or local mandates which affected normal business operations.
Complete details to help businesses determine their eligibility can be viewed on the Hughes & Coleman website at ERTC Funds Recovery. The Hughes & Coleman team is ready to help businesses that may benefit from the CARES Act of 2020.
Call the Hughes & Coleman ERTC Recovery team today at 800-800-4600 or complete a simple online form to determine qualification. There are time restrictions to file for your business, so contact Hughes & Coleman today to take advantage of the employee retention tax credit while it's still available. There are no costs involved or obligation to check to see if your business qualifies for the ERTC credit.
About Hughes & Coleman:
Hughes & Coleman was founded in 1985 and has recovered over a billion dollars for our clients in Kentucky and Tennessee injured from auto accidents, big truck wrecks, motorcycle accidents, defective medical products, nursing home abuse, slip and fall accidents, and wrongful death. Hughes & Coleman believes that Control Starts With A Call. Hughes & Coleman operates 10 offices in Kentucky and Tennessee.
Contact:
Lora Fisher, Brand Development Director
270-782-6003 ext. 147
lfisher@hughesandcoleman.com
SOURCE: Hughes & Coleman
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