As significant funds from the CARES Act go unclaimed, Chicago-based business consultancy NuWay Business Solutions has launched updates to its ERTC prequalification and application services.
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The enhanced program is designed to help clients apply for the Employee Retention Tax Credit (ERTC), which was established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The firm has now opened prequalification services, which are available to companies of any size.
More details can be found at: https://localertcfundingexperts.com
The CARES Act provided $367 billion in funds to help small and medium-sized businesses retain staff during the pandemic. For several reasons, a large proportion of that funding has not yet been claimed. The latest update from NuWay Business Solutions aims to help SMBs determine if they are eligible.
One reason for the unclaimed funds is the fact that many business owners are confused about how ERTC is applied. When first introduced in 2020, the CARES Act offered 2 avenues of support; the Payment Protection Program (PPP), and the employee retention tax credit. In its original form, the Act only allowed businesses to apply for one of these options.
However, subsequent revisions have allowed companies with PPP loans to apply for ERTC credits as well. NuWay Business Solutions believes that some business owners may not be aware of this change. The recently revised services are designed to rectify this misunderstanding. They offer businesses with 5 to 500 W-2 employees the ability to apply for backdated credits.
The firm explains that the CARES Act provided up to $5,000 per employee between March 12 and the end of December 2020. With the amendments in 2021, payments increased to as much as $7,000 per employee, per quarter, for Q1, Q2, and Q3. This amounted to a potential credit of $26,000 per employee in that year.
About NuWay Business Solutions
Founded by Chicago business owner Brian Pawl, NuWay Business Solutions offers a variety of services designed to help clients operate more efficiently. Along with the revised ERTC program, the consultancy provides financial and data analysis, credit card processor reduction advice, and business marketing support.
A company representative recently stated: “By answering a few, simple, non-invasive questions, our team of ERTC experts can determine if you are likely to qualify for a no-strings-attached tax credit. There is no cost or obligation to be pre-qualified, and no restrictions for what recipients of the credit must use the funds.”
Interested parties can learn more by visiting: https://localertcfundingexperts.com
Contact Info:
Name: Brian Pawl
Email: Send Email
Organization: NuWay Business Solutions
Address: 874 W Kenilworth Ave, Palatine, IL 60067, United States
Phone: +1-312-752-4355
Website: https://nuwaybizsolutions.com/
Release ID: 89078677
