Monday December 26th 2022 $26,000 Per Employee: Tax Credit Aids COVID Affected Firms

The COVID-19 pandemic has been hard on businesses all over the world. If your business has suffered and you have retained W-2 employees over the last two years, you may be eligible for significant tax credits from the Employee Tax Credit.?

This credit gives your business up to $26,000 per W-2 employee.?

It's a refundable tax credit, not a loan, so you don't ever have to pay it back!?

This could be just the help your business needs to get back on its feet.

How Much Is the Employee Tax Credit Worth?

The Employee Tax Credit is a refundable tax credit available to businesses who have retained W-2 employees over the last two years.

The credit is worth up to $26,000 per W-2 employee, and can be used to offset any taxes owed.

This credit can be a huge help to businesses who have been affected by the COVID-19 pandemic, and is a great way to reduce your tax liability.

How to Claim the Employee Tax Credit

If your business has suffered during the COVID-19 pandemic and you retained W-2 employees over the last two years, you may be eligible for significant tax credits from the Employee Tax Credit.?

This credit gives your business up to $26,000 per W-2 employee.?

It's a refundable tax credit, not a loan, so you don't ever have to pay it back!?

To claim the credit, you'll need to file Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund, with the IRS.

You can file this form electronically or by mail. You'll need to include information about your business and your employees, as well as the amount of the credit you're claiming.?

If you're claiming the credit for the first time, you'll need to file Form 941-X for each quarter that you're eligible.

If you're claiming the credit for a previous quarter, you'll need to file Form 941-X for that quarter and all subsequent quarters.?

The Employee Tax Credit is a great way to reduce your tax liability and get some much-needed relief during these difficult times.?

Please contact the Law Offices of Omar Zambrano at 626-338-5505 for a Free Consultation to see if you qualify.

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