Tax Relief for Coronavirus affected businesses
RetroTax is here to ensure that your business has all the tools available to weather these uncertain times. Have your hiring habits changed because of the current pandemic conditions? There are new and existing tax credit and incentive programs available to businesses to keep your tax burden down.
Existing Tax Relief Programs
Are you currently on a hiring freeze due to COVID-19? Allow RetroTax to review your worksite locations for the opportunity to earn $3000 per employee, per year in tax credits through the Federal Empowerment Zone Program. This program allows for a refund on taxes already paid.
Has your business experienced an increase in hiring to keep up with the demands of COVID-19? With millions of Americans out of work, more new hires than ever will be eligible for the Work Opportunity Tax Credit (WOTC).This program rewards employers with significant tax reductions when they hire people experiencing economic distress. As your company hires or begins to hire again, employ RetroTax and be prepared to screen every new employee for WOTC.