OnCentive Clients Can Receive COVID-19 Employee Retention Credit Within Weeks Versus Months
August 4, 2022 (Birmingham, AL) - The nation’s leading profitability consulting firm, OnCentive, announced today the ability to fund clients’ COVID-19 Employee Retention Credit (ERC), helping businesses secure a much-needed infusion of cash flow without waiting on the Internal Revenue Service.
Through a newly secured funding partner, OnCentive will qualify, calculate, file, and fund clients’ COVID-19 Employee Retention Credits within weeks, forgoing the typical eight-to-nine-month turnaround IRS times.
“We constantly strive to generate new profitability solutions for our clients and partners,” saidShannon Scott, OnCentive’s CEO. “This credit was passed to assist the recovery of small businesses and unfortunately, the delays in processing the payments have stifled some of that recovery. Reducing payment waiting from months to weeks for our clients will be a game changer.”
Originally established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the ERC assists businesses struggling from the pandemic with a refundable tax credit of up to $26,000 per W-2 employee for 2020 & 2021. Businesses of various sizes and industries can take advantage of this opportunity, but delays caused by various factors led to an unprecedented amount of unprocessed tax returns causing employers to experience delays of 8 months to almost a year in receiving their refunds.
If your business has not claimed the ERC or has been told that you do not meet the requirements, contact OnCentive for a risk-free assessment. The Qualifications Team at OnCentive goes beyond the surface-level metrics and digs into the impact the pandemic had on your business's processes, supply chain, and inner workings to determine & calculate eligibility for ERC and other lucrative tax credits.
“If you haven’t already looked into the ERC for your business, now is the time,” stated Scott. “Many organizations are still feeling impacts from the pandemic and have struggled to recover. Through our new funding partnership, companies can now quickly capitalize on the ERC, without having to play the IRS waiting game, and put those much-needed funds back into their business.”
Leveraging their leaderships’ 100 years of combined credit expertise and their state-of-the-art custom technology, OnCentive helps businesses maximize government incentives and tax credits. OnCentive has helped their clients capture over $2 billion in government incentives & recovery programs.