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Yahoo
26-03-2025
- Business
- Yahoo
IRS Final Deadlines for ERTC & FFCRA Independent Contractor Programs
~70% of Eligible Businesses Have Not Claimed the Tax Refund FORT MYERS, Fla. , March 26, 2025 /PRNewswire/ -- Despite the mass confusion between the PPP loans and ERTC tax refunds, Economic Recovery Center announced the final IRS deadline for the Employee Retention Tax Credit (ERTC) and the Families First Coronavirus Response Act (FFCRA) for Independent Contractors (1099 filers) end on April 15, 2025. Unclaimed funds will be distributed to other government programs. What You Need To Know: ERTC for Businesses & FFCRA for Independent Contractors Launched: Trump 2020 Changes: Biden - Numerous in 2020 and more throughout 2021, causing mass confusion of who qualified End: April 15, 2025 YES - Businesses that claimed a PPP loan CAN claim the ERTC Qualifications for ERTC: Either/Or qualification; Amount Per W2: Up to $21,000 per W2 Qualifications for Independent Contractors: Amount Per 1099: Up to $32,000 The PPP loan program and the ERTC (aka ERC) programs were launched to assist American workers during the COVID-19 Pandemic. Despite the misinformation and confusion caused by numerous changes, the PPP program was an immediate cash infusion into millions of businesses with minimal vetting, attracting scammers to game the loan program. In contrast, the ERTC program was a temporary change to U.S. tax laws, providing for a future tax refund to those who amended their qualified tax refunds, which the IRS can compare to ensure qualification and proper payment - if you apply. "Every business owner and independent contractor should go through the full no-cost analysis," stated Chase Henderson, President of Economic Recovery Center. Henderson continued, saying, "We are talking about a refund of their taxes, not pulling in tax dollars from others; it is literally their money that was overpaid and will be funneled to other programs if not claimed." Even if your business has shut down or you are no longer an independent contractor, you may still qualify. Go to or for a no-cost, no-commitment analysis, go to: Business Owners (ERTC): Independent Contractors (FFCRA): For immediate assistance, visit or contact our office at (385) 376-2372. About Economic Recovery CenterEconomic Recovery Center specializes in helping businesses navigate financial relief programs for Americans. Our team has helped hundreds of American workers successfully claim the tax credits or relief refunds they need. Visit: (385) 376-2372 Media Contact: Chase Henderson Economic Recovery Center Chase@ View original content to download multimedia: SOURCE Economic Recovery Center Sign in to access your portfolio
Yahoo
25-03-2025
- Business
- Yahoo
IRS Final Deadline for ERTC Program
Up to 70% of Eligible Businesses Have Not Claimed the Tax Refund FORT MYERS, Fla., March 25, 2025 /PRNewswire/ -- The final IRS deadline for the Employee Retention Tax Credit (ERTC) is three weeks away, and according to industry experts, over 50% of eligible businesses have not submitted for the COVID-era tax refund. The program officially ends on April 15, 2025, and unclaimed funds will be distributed to other government programs. The ERTC Program is NOT Like Other COVID-era Programs The Trump administration launched the relief program at the beginning of the COVID-19 pandemic. Then, in 2020, 2021, and 2022, the IRS, under the Biden Administration, made numerous changes to the program, creating mass confusion among the nation's 33 million small and medium-sized businesses. Worse, as the IRS tried to keep up with the changes, COVID-19 programs (PPP loans, COVID-EIDL loans, and ERTC refunds) were referred to within the tax professional community interchangeably. This is not correct. The PPP and COVID-EIDL programs were government loans based on the immediate need of the applicant to cover payroll, with little to no additional vetting. Without the requirement of corroborating information, scammers flocked to those programs. In contrast, the ERTC was a temporary change to the U.S. tax laws for all businesses that meet the programs' qualifications. Unlike the loan programs, the ERTC is based on a refund of already filed taxes that corroborate the applicant's information. In other words, applying for the ERTC is like discovering you did not take a $20,000 tax deduction - per employee. "There are no costs to determine if you qualify," stated Chase Henderson, President of Economic Recovery Center. Henderson continued, saying, "The qualifications are complex and have consistently changed since its launch. Regardless, we believe all U.S.-based businesses should, at a minimum, obtain a no-cost qualification analysis. After all, we are talking about a refund of their taxes, not pulling in tax dollars from others; it is literally their money that was overpaid." Even if your business has shut down and closed since the pandemic, you may still qualify if your business was open in 2020 and/ or 2021 and you meet either of the following: 1) Did your business lose money in 2020 or 2021 (eg, you made more in 2019 than you did in either 2020 or 2021)?Or2) Did you have to change the way your business operated in 2020 or 2021 (eg, did you implement social distancing or had to limit the number of people allowed in a facility)? If you said 'yes' to either question, contact for your no-cost analysis. For immediate assistance, visit or contact our office at (385) 376-2372. About Economic Recovery CenterEconomic Recovery Center specializes in helping businesses navigate financial relief programs, including the ERTC. Our team has helped numerous business owners successfully claim their tax credits and receive the refunds they deserve. Don't be one of the 80% that leave money on the table—contact us today! Visit: (385) 376-2372 Media Contact: Chase Henderson Economic Recovery Center Chase@ View original content to download multimedia: SOURCE Economic Recovery Center
