In order to assist businesses in claiming their payroll tax credits, NEWITY, a small business marketplace committed to connecting them with SBA loan solutions and dependable service providers, today unveiled their new Employee Retention Credit (ERC) product.

Depending on the date of their initial tax filing or payment, eligible enterprises who have not yet claimed ERC have until 2024 to do so.
ERC, an incentive programme that was initially established inside the Coronavirus Aid, Relief, and Economic Security (CARES) Act, offers business owners tax credits of up to $26,000 per retained employee, even for companies who took out PPP loans.
NEWITY shortened the ERC application process to assist businesses in determining eligibility, filing their claim, and ensuring IRS compliance. NEWITY has a proven track record of success in assisting 115,000 firms with navigating the complexity of the Paycheck Protection Program (PPP).
According to David Cody, co-founder and co-CEO of NEWITY, “Many businesses are still struggling as a result of the epidemic, and the Employee Retention Credit scheme offers significant benefits to assist sustain business operations.” Our continued work to be “complexity busters” for small businesses that are otherwise at a disadvantage when it comes to these difficult applications is demonstrated by our expanded ERC service.

Source: Prnewswire