How Do I Qualify?
Answer the following three questions to see if you qualify:
1. Did you pay wages for employees?
2. Did you have any limitations in regular operations due to COVID-19?
3. OR did you experience a decrease in revenue?
If the answers to the above questions are YES, you very likely qualify for this credit.
Important note: If you started your business in 2020, you might qualify just with the first qualification alone!
Keep in mind: Even most accountants and payroll processors are poorly informed as we have seen with many of our clients. The reason is simple; this credit is fairly new and complex, with a lot of rules and details buried in the code, and accountants don’t have the time to study it in depth.