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Employee Retention Tax Credit Online Calculation & Application Service Announced

National CPA firm LP Consulting, experts in the Employee Retention Tax Credit (ERTC), announce their web-integrated 15-minute calculator that helps owners of startups and small to mid-sized businesses understand what they may be owed by the government for retaining staff during the pandemic.

The newly launched service helps business owners understand if they qualify for the ERTC, how much they can claim, and facilitates direct-to-business-owner refunds. LP Consulting makes it easier for companies that received PPP loans, and those that simply pushed through the pandemic without laying off employees or accessing government support, understand the parameters that define ERTC claims and the recently implemented program changes that may lead to higher refunds.

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Introduced in 2020, the ERTC was originally part of CARES – the Coronavirus Aid, Relief and Economic Act. With the introduction of their proprietary 15-minute online tool, LP Consulting makes a complicated application process easy, and ERTC refunds accessible to startups and SMBs.

LP Consulting picks up where financial advisors and banking institutions left off when Paycheck Protection loans (PPP) were introduced and then halted. This part of the CARES Act paid administrative fees based on the loans that were signed, providing an incentive for advisors and banks to educate business owners about the program and help them file their paperwork.

Contrary to PPP, the ERTC is not a loan but a tax compliance and refund vehicle that is significantly more complicated and does not offer banks or financial advisors any built-in payments.

The prevailing program is a refundable tax credit that has increased by $2,000 per employee per business quarter since its introduction. Business owners who either began operations after February 15, 2020, or have been in operation prior to that date, are potentially eligible for a tax credit of up to $26,000 per employee.

To bridge the gap in ERTC information left by banks and financial managers, LP Consulting offers a four-step online service that begins with a qualifying questionnaire. Upon submission of their questionnaire, claimants are provided with a secure link to an ERTC application. Claimants then upload their 941 returns, any PPP loan documentation, and raw payroll data to the secure portal.

LP Consulting then calculates the tax credit owed and prepares and submits the 941-X amended payroll return, after which the IRS processes the information and mails claimants the cheque they’re due.

With their newly announced online tool, LP Consulting helps business owners access tax credits quickly, easily, and without having to prepare addendums themselves or enlist the services of their personal or company tax advisor.

Learn more at

Contact Info:
Name: Leonard Palmer
Email: Send Email
Organization: LP Consulting LLC
Address: 3648 Gruber Rd, Monroe, Mi 48162, United States

Source: NewsNetwork

Release ID: 89087593

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