Rhode Island employers can claim their Employee Retention Tax Credits (ERTC) in 2022 using this updated application process from HM Optimisation.
—
Employers who kept their staff on the payroll through 2020 and 2021 may now be eligible for tax credits through the federal Employee Retention Credit (ERC) program. A newly expanded application process launched by HM Optimisation enables Rhode Island employers in maximizing their claims, regardless of whether they received funds through the Paycheck Protection Program (PPP).
To learn more about claiming ERC tax credits in Rhode Island, please visit https://erctfund.com
The recently updated 15 Minute Refund program is available for employers with 5 to 500 full-time employees on average, including non-profit organizations, startups, and new businesses. Eligible employers may qualify for up to $26,000 in rebates per W-2 employee or up to $100,000 total for new businesses founded during the pandemic.
While many employers believe they are not eligible for tax rebates after receiving a PPP loan for their business, this is no longer true. The Consolidated Appropriations Act passed in 2021 made several amendments to the ERTC program, including expanding the eligibility to include employers who took a PPP loan.
The amendments included an increase to the maximum allowable rebate per employee, which was originally $5,000 per quarter. The maximum is now $7,000 per employee, per quarter, or 70% of the first $10,000 of each employee’s wages. It also increased the maximum number of allowable employees per company from 100 to 500.
Using the 15 Minute Refund program, employers can complete their claim and have their refund maximized by ERTC specialist CPAs with a time commitment of 15 minutes or less. This program is only available from a single firm of specialist CPAs, which has partnered with HM Optimisation.
The ERTC program provides employers with a one-time tax credit or refund and is not a loan program. Business owners do not need to pay this money back, and there are no restrictions on how they can spend their rebate.
To determine if they are eligible for a rebate, employers can take a short 10 question quiz on the HM Optimisation website. There is no cost or obligation to take the quiz, and it requires no proprietary business information.
Organizations that recently worked together with the ERTC specialist CPAs to claim their rebates include a non-profit organization that received $359,923 and a dental practice that made a claim for $128,867.
To learn more about claiming ERTC in Rhode Island, please visit https://erctfund.com
Contact Info:
Name: Klaus Hansen
Email: Send Email
Organization: HM Optimisation OÜ
Address: Sepapaja 6, Tallinn, Estonia 15551, Estonia
Website: https://hmoptimisation.com/
Release ID: 89073561
