OnCentive customers can receive COVID-19 retention loans in weeks instead of months
BIRMINGHAM, Alabama – August 4, 2022 – (Newswire.com)
The nation’s leading profitability consulting firm, OnCentivetoday announced the ability to fund customers’ COVID-19 Employee Retention Credit (ERC) to help businesses secure a much-needed injection of cash without having to wait for the Internal Revenue Service.
Through a newly acquired funding partner, OnCentive will qualify, calculate, submit, and fund customers’ COVID-19 employee retention loans in weeks, while avoiding typical IRS processing times of eight to nine months.
“We are constantly striving to develop new profitability solutions for our customers and partners,” said Shannon Scott, CEO of OnCentive. “This loan was passed on to help small business recovery and unfortunately delays in processing payments have stifled some of that recovery. Reducing payment wait times from months to weeks for our customers will be a game changer.”
Originally established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the ERC is supporting companies struggling with the pandemic with a refundable tax credit of up to $26,000 per W-2 employee for 2020 and 2021 Businesses of different sizes and industries can take advantage of this opportunity, but delays caused by various factors resulted in an unprecedented amount of unprocessed tax returns, prompting employers to do so Experienced delays from 8 months to almost a year upon receipt of their refunds.
If your organization has not applied for the ERC or you have been notified that you do not meet the requirements, contact OnCentive for a risk-free assessment. Going beyond surface-level metrics, OnCentive’s qualifications team examines the impact of the pandemic on your organization’s processes, supply chain and inner workings to determine and calculate eligibility for ERC and other lucrative tax credits.
“If you haven’t already signed up for the ERC for your…