Iron Capital Equities: Most small business owners are unaware of the CARES Act COVID-19 supplemental grant, the latest in the U.S. government’s Main St.

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New York, NY, June 02, 2022 — (PR.com) — A tax refund is available for any small business that processed payroll in 2020 and 2021, as per the CARES Act in 2021. Iron Capital Equities, a NYC-based fintech company, sees most companies think EIDL and PPP were the only COVID Relief packages available. “During the PPP application process, small business owners had to choose between PPP or ERC. As of March 2021, any business that had a payroll in 2020 and 2021 can access this credit, even if it received PPP,” says Matthew. Elling, founding partner and chief operating officer at Iron Capital Equities.

EIDL has been closed since May 16, 2021, so now business owners are scrambling to secure the remaining funds. The ERC is a tax credit that can be used as an allowance for your 2022 tax return or it can be requested in advance. Approved applicants see IRS checks arrive in 6-7 months. The backlog is due to limited staff and tax season as the agency is inundated with COVID relief work and general tax processing.

For the PPP program, the money was guaranteed by the SBA, but issued by the banks.

The EIDL was funded by funds allocated by the SBA.

The ERC is a tax credit issued and processed by the IRS.

The ERC media blackout is due to the war in Ukraine and the impending global recession and inflation. “Right now it’s all basically word of mouth, with business owners telling other business owners,” Elling said.

Iron Capital Equities, a New York-based fintech company, is processing hundreds of ERC applications after word got out. Iron has dedicated additional resources to handle the request. All companies with W2 employees are invited to apply now: www.lineofcreditdepot.com/erc/employee-retention-credit.

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