Business impacted by COVID? Receive a refund (not a loan) to infuse capital back into your company with the Employee Retention Credit.
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If you’re a business owner who was negatively impacted by COVID-19, you’re likely eligible for a tax refund up to $26,000 per employee. CannibasTech has partnered up with Accelerate Tax, a foremost expert on the Employee Retention Tax Credit (ERTC/ERC), to provide small business customers a path to learn more about this program, apply, and receive thousands of dollars in a tax refund.
What is the Employee Retention Credit?
The Employee Retention Tax Credit (ERTC/ ERC) is a federal program enacted by the “Cares Act” created to help small and medium-sized businesses recover from the financial impact of COVID-19. Due to the program’s complex tax code and qualifications, it has gone underutilized. However, millions of businesses are eligible. This program does expire, so businesses should act fast.
What are the qualifications for the Employee Retention Credit?
- Had W2 employees in 2020 – 2021
- Started business prior to April 2020*
- Saw revenue decrease in 2020 and/or 2021 compared to 2019
- Government mandates partially or fully impacted or shut down the business or affected supply chain
- *Recovery start-ups that began after February 15, 2020 may also qualify
Why haven’t I heard of the Employee Retention Credit before?
Unlike PPP, most banks and financial services companies are not aiding small and medium-sized businesses because the program is too complex. Also, the government has not widely publicized this program or provided much education or information about how it works.
What does Accelerate Tax do?
Accelerate Tax specializes in the Employee Retention Credit and is made up of experienced ERC experts, accountants and CPAs with over 100 years of experience. Accelerate Tax’s sole focus is helping businesses get the refund they qualify for. They do things ethically and by the book while handling all of the heavy lifting, including the filing of the tax credit on behalf of the business owner.
Can’t my CPA or payroll service file this for me?
Most accountants do not have the time to fully understand the complex (200+ pages) IRS guidelines, and often refer their clients to us. Plus, Accelerate Tax obtains 15-25% larger refunds than typical accounting firms.
If I received forgiveness for a PPP loan, am I still eligible for Employee Retention Credit?
Yes, you may still be eligible for a refund. PPP loan forgiveness may reduce your ERC refund, but this depends on the amount forgiven and when it happened. Accelerate tax experts know how to maximize your ERC cash refund, even if your business received PPP forgiveness.
My revenues did not drop during COVID, am I still eligible for ERC?
Yes, you may still be eligible for a cash refund if you were affected by government shutdowns and mandates. If you were forced to close, had restrictions on capacity, or had supply chain challenges, you could still qualify.
How does it work?
Accelerate Tax speaks to each and every business owner. They get to understand your business and then help you obtain all the necessary documents. They examine your company’s payroll, income, and IRS filings to maximize your ERC refund. They even file for you.
How much could I receive and when will I get my check?
You can receive up to $26,000 per employee and expect a check in 3-6 months on average. However Accelerate Tax has great solutions to help you get your refund quicker, within 4-5 days after filing. Ask one of their tax experts how.
How to Apply
Accelerate Tax has a dedicated team ready to assist you and ensure that your refund is processed as quickly as possible.
Apply now, right here on Cannabis Tech.
