FaithBasedSolutions.org just launched a website dedicated to helping churches and faith-based organizations collect COVID relief funds that are owed to them. Readers can visit the website at https://faithbasedsolutions.org to find out more about how they can secure funds for their faith-based organization, read the FAQ, and begin the claims process by answering a simple 10-question form.
The company is encouraging churches, faith-based organizations, and other small businesses to avail of the benefits of the ERTC (Employee Retention Tax Credit), an initiative funded by the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) of 2020. ERTC tax credits are credits (or refunds) determined as a percentage of payroll, which includes qualified wages and health plan expenses, in each quarter that the business or faith-based organization qualifies. Through the ERTC program, the government is still providing billions of dollars of unclaimed money that many churches qualify for. The money is not a loan and does not require repayment.
There are specific rules for determining eligibility by quarter and the dollars that can be claimed for each employee are limited. The 2020 ERTC program is a refundable tax credit of 50% of up to $10,000 in wages paid per employee from 12th March 2020 to 31st December 2020, by an eligible employer. That works to a potential of up to $5,000 per employee. In 2021 the ERTC program increased to 70% of up to $10,000 in wages paid per employee per quarter for Q1, Q2, and Q3 which equates to a potential of up to $21,000 per employee. Both full-time and part-time employees qualify.
The spokesperson for FaithBasedSolutions.org talks about the underutilization of ERTC tax credits by saying, “Many business owners heard of and made sure to sign up for the funds that were given out as a part of the Payroll Protection Program (PPP), also a part of the CARES Act, that was administered by the Small Business Administration. The ERTC program, however, was administered by the Internal Revenue Service and was less popular due to several complicated reasons. Initially, employers could choose to apply for PPP or claim ERTC credits, but not both. Due to the differences in the structure of how PPP and ERTC gave out money, most businesses that had under 500 employees chose to take the forgivable PPP loans. However, on March 11, 2021, The American Rescue Plan Act of 2021 was signed into law and included many modifications and expansions to existing elements of previous stimulus programs. This included modifications such as businesses that applied for and received PPP funds could now also claim ERTC credits, ERTC credits could be retroactively claimed for businesses that qualified in 2020, ERTC credits were extended through 30th September 2021 with lower qualification requirements, the per-employee cap on qualifying wages increased from $10,000 for all of 2020 to $10,000 per quarter for the first 3 quarters of 2021, and the refundable credit amount increased from 50% of qualifying wages in 2020 to 70% in 2021. It is, therefore, a very good option for small businesses and other faith-based organizations to bounce back from the disastrous effect of the pandemic that lasted for the last couple of years.”
A quick 10-question form on FaithBasedSolutions.org will help companies and organizations determine how much COVID relief money is owed to them. The form is a free, no-obligation, pre-qualification where the small business owners or administrators of the faith-based organization just have to answer a few, simple, non-invasive questions. Once the details are provided, the team of ERTC experts at FaithBasedSolutions.org can determine if they likely qualify for a no-strings-attached tax credit. Faithbasedsolutions.org has also created a video with details about these government funds for churches.
When asked why one should choose FaithBasedSolutions.org to pursue this government-provided monetary benefit, the spokesperson says, “We have designed our processes to guarantee the maximization of refundable credits for local and small to medium-sized businesses. You only have to spend 15 minutes of your time to find out whether you qualify, a promise that no other CPA firm can offer. We take no upfront fees to check whether you qualify and our fees are 100% contingent on your refund. We also provide detailed audit-proof documentation for IRS support. So don’t lose out on this opportunity while the government is providing the means to avail it.”
For more information about FaithBasedSolutions.org, contact the company here:
18283 Arial Way Santa Clarita, Ca 91350