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Employee Retention Tax Credit

  1. Employer Identification Number (EIN): The EIN is a unique identifier assigned to the business by the Internal Revenue Service (IRS) and is required to apply for the tax credit.
  2. Payroll Information: Businesses need to provide details about their eligible employees, including their names, social security numbers, and qualified wages paid to them during the eligible period.
  3. Gross Receipts Information: Businesses should provide documentation or evidence of the decline in gross receipts to demonstrate the impact of COVID-19 on their operations. This may involve comparing current year's receipts with the same period in the previous year.
  4. Documentation of Suspended Operations: If the business experienced a full or partial suspension of operations due to government orders, supporting documentation such as closure notices or orders can be required.
  5. Tax Forms and Filings: Businesses may need to provide relevant tax forms and filings, such as Form 941 (Employer's Quarterly Federal Tax Return) or Form 944 (Employer's Annual Federal Tax Return).

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Funding Amount

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Eligible Applicants

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Eligible Activities

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Deadline to Apply

Apply for Funding

88%

Approval rating across all Canadian funding programs

93%

Average time savings to our clients, compared to
businesses that apply for funding in-house
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