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ERTC Tax Rebate Application 2023: Refund Calculation, Claim Status Tool Update

LP Consulting LLC has launched a pre-qualification tool to help business owners determine if they qualify to receive the Employee Retention Tax Credit (ERTC). This credit, created under the CARES Act, rewards employers for keeping their workers on the payroll during the pandemic.

LP Consulting LLC, an accounting firm specializing in helping business owners claim the tax credits made available to them under the CARES Act, has launched a pre-qualification tool to help their clients retroactively claim tax credits offered by the IRS for keeping American workers employed during the pandemic in 2020 and 2021.

More information is available at

The ERTC, or Employee Retention Tax Credit, was created under the CARES Act to reward businesses that kept their employees on the payroll during the pandemic by offering up to $26,000 employee retained. With their new questionnaire, LP Consulting can help employers determine their eligibility in as little as 15 minutes.

The CARES Act created two programs to help employers grapple with the challenges imposed by the pandemic. The first was the Payroll Protection Program (PPP), which allowed businesses with fewer than 500 employees to apply to the Small Business Administration for forgivable loans to help them meet their payroll obligations. The second was the ERTC, which offered refundable tax credits to employers for each employee they kept.

LP Consulting explains that initially, businesses could only receive funds under one program or the other. The more immediate availability of PPP loans often made them popular among companies struggling to meet their payroll expenses. This meant that the funds set aside for the ERTC went largely unclaimed until The American Rescue Plan Act was signed into law on March 11, 2021.

The new ERTC tool features a 10-question assessment and a more detailed application questionnaire. Once a client's eligibility is determined, LP Consulting can guide them through filing and maximizing their claim by analyzing their payroll data, calculating the total credit they qualify for, and preparing the requisite 941-X amended payroll return. Funds received under the ERTC are issued directly by the IRS, do not need to be repaid, and can be used for any purpose.

The ERTC pre-qualification consultants explain that the new law allows businesses that received PPP loans eligible to receive the tax credit, reduce the necessary qualifications, and retroactively apply for ERTC funds so long as they can demonstrate that they met the reduced qualifications in 2020.

LP Consulting is a CPA firm working exclusively on ERTC, urging business owners to investigate the ERTC and determine if they might qualify, even if their revenues have returned to pre-pandemic levels. "Even if your revenues returned to 'normal' in 2021, you may have qualified in 2020, and you can retroactively claim those credits," says a spokesperson.

Interested parties can find additional information about the ERTC rebate at

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

Source: PressCable

Release ID: 89098905

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