Retroactively Claim the Employee Retention Tax Credit to Maximize Your Business Benefits

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The Coronavirus Aid, Relief, and Economic Security (CARES) Act incentive, the Employee Retention Tax Credit (ERTC), gives businesses the opportunity to receive a credit for their payroll costs. The ERTC was designed to help them retain their current employees or rehire any who had been laid off due to the economic impacts of the pandemic. With this in mind, many businesses have taken advantage of tax credits by filing for them as soon as possible after they become available. But what if you didn’t file immediately? Are there still opportunities to retroactively claim the ERTC?

At Ataxdefense and Accounting, LLC, our team of professionals can help you evaluate your options and determine if retroactively claiming the ERTC is right for your business. We understand that it can be difficult to keep up with all of the changes brought about by the CARES Act, but we are here to provide assistance and support every step of the way.

First, let’s take a closer look at what exactly is involved in claiming the ERTC. Eligible employers are those whose operations were either partially or fully suspended due to governmental orders related to COVID-19 or experienced a significant decline in gross receipts during any quarter of 2020 compared to 2019. Those who qualify can receive a refundable tax credit against employment taxes equal to 50% of qualified wages up to $10,000 per employee for all calendar quarters in 2020. Qualified wages are wages paid after March 12th and January 1st, 2021, and must meet specific requirements by The Internal Revenue Service (IRS).

If you missed an earlier opportunity to claim this tax credit, don’t worry! You may still be able to do so retroactively depending on your filing deadlines. This includes being able to amend prior year returns where applicable which could result in additional refunds beyond what was initially received when submitting original returns. Additionally, certain provisions allow businesses with more than 500 employees greater flexibility with regard to eligibility criteria that may have originally excluded them from participation when first introduced back in March 2020. 

At Ataxdefense and Accounting, LLC,  we believe it pays off now more than ever before for businesses large and small alike to examine potential avenues such as these for additional savings during these uncertain times. Our knowledgeable accountants and tax experts specialize in helping business owners navigate through complex regulations associated with compliance matters including those related to employee retention credits such as these. Whether you need clarification on specific rules or require assistance deciding how best to optimize savings opportunities stemming from recent legislative initiatives; we are here for you!  So don’t hesitate – to reach out today at 888-455-3111 or visit us online at – We look forward to hearing from you soon!

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