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If your business operates in the logistic and supply chain management sector, you might be eligible to receive ERC tax credit relief.
One of the biggest challenges for supply chain management businesses during the pandemic were the delays in shipments. This, together with reduced access to critical materials that affected production of the goods, led to a loss in revenue for a lot of businesses. At the same, logistics companies had to navigate the ever-changing complex environment of pandemic regulations and safety protocols. While the pandemic created a lot of opportunities for ecommerce, it also created fluctuating demand for goods and services. Sudden shifts in consumer demand patterns meant logistics companies found it harder to anticipate and meet those demands accurately. An additional challenge were the increases in freight cost and fuel prices, that added significant financial strain.
If your logistics and supply chain management business paid qualified wages between March 12, 2020 and January 1, 2022, experienced disruptions, loss of revenue and partial or full suspensions, then you should apply for the Employee Retention Credit (ERC). Credit amount can be as high as $26,000 per employee and varies depending on eligibility criteria.
How do businesses qualify for the ERC grant? Here are a few criteria that can apply.
If you are a logistics and supply chain management business, here's some great news: You can still apply for the Employee Retention Credit (ERC) grant for the years 2020 and 2021, even in 2023! Many businesses are unaware that the government has extended the eligibility period for an additional three years, allowing you to claim the refundable tax credit for past years. Don't let this opportunity slip away; act now to access the ERC grant and get the financial boost your business needs to thrive in the current economic landscape.
At IRSplus ERC Support, we understand the importance of a smooth process. Contact our dedicated team today through a quick phone call at 1-888-210-8870 or via our chat to check your eligibility for the ERC tax credit. Rest assured, all interactions and appointments are treated with the utmost confidentiality. Our specialists are here to serve logistics and supply chain management businesses nationwide, assisting you in claiming your well-deserved ERC credits.
