What Should Businesses Know as the ERTC Deadline Nears?

January 12, 2024
Dayes Law Firm

There are a few Employee Retention Tax Credit (ERTC/ERC) deadlines coming up that business owners who haven’t yet claimed the credit need to be aware of. In fact, one is in just a couple of months, and employers are not going to want to miss out on getting the ERTC funds they’re entitled to claim. 

What Businesses Should Know as the ERTC Deadline Nears

The ERTC is a fully refundable payroll tax credit that some businesses can claim on qualified wages paid to their employees if they kept staff on payroll even in the wake of significant financial setbacks during the first months of the COVID-19 pandemic. 

The tax credit can be claimed for quarterly payroll tax filings from 2020 and 2021, and it’s still available for eligible businesses to retroactively claim now. However, there are some very important deadlines coming up that mean if you haven’t yet claimed this tax credit and want to do so, you need to get a move on and get it done. 

For all quarters in 2020, the deadline to apply for the Employee Retention Tax Credit is April 15, 2024, and for all quarters in 2021, the deadline is April 15, 2025. That means business owners who still need to claim the ERTC for wages paid in 2020 have extremely limited time left to start the process. 

So, what can an employer who is dealing with both limited time to claim the ERTC and who doesn’t have a lot of time on their hands to gather and complete the paperwork to do? Fortunately, you may be able to work with tax professionals to claim the Employee Retention Tax Credit for your business, and they can help ensure the process is started and completed in time to get the funds you’re eligible for. 

How a Tax Professional Can Help With the ERTC

Tax professionals who are skilled in helping businesses claim the Employee Retention Tax Credit can help with much of the process to take the stress out of claiming the credit. A tax attorney can evaluate your claim from start to finish to make sure every piece of information and component of documentation is correct to avoid the IRS having any sort of issue with your application later. 

ERTC tax lawyers can calculate the refund amounts due to your business and verify them to help you get an idea of what sort of funds you might expect and to help save you time that is better spent on other needs for your business. Tax professionals know all the particulars around claiming tax credits and can potentially help you claim the ERTC more quickly than you would on your own – which is important when an ERTC deadline is looming so near. 

If you want assistance to claim the Employee Retention Tax Credit, the team at Dayes Law Firm can help. Our ERTC team has helped businesses with filing for over $250 million in these tax credit claims and we can help you and your business, too. 

Please contact us by giving our team of tax professionals a call so we can discuss what options you have when it comes to claiming the ERTC. The first consultation is free, and you are under no obligation to work with us after the initial evaluation.

Call Dayes Law Firm today to learn more! We look forward to working with you.