IRS Final Deadlines for ERTC & FFCRA Independent Contractor Programs
~70% of Eligible Businesses Have Not Claimed the Tax Refund
FORT MYERS, Fla. , March 26, 2025 /PRNewswire/ -- Despite the mass confusion between the PPP loans and ERTC tax refunds, Economic Recovery Center announced the final IRS deadline for the Employee Retention Tax Credit (ERTC) and the Families First Coronavirus Response Act (FFCRA) for Independent Contractors (1099 filers) end on April 15, 2025. Unclaimed funds will be distributed to other government programs.
What You Need To Know: ERTC for Businesses & FFCRA for Independent Contractors
- Launched: Trump 2020
- Changes: Biden - Numerous in 2020 and more throughout 2021, causing mass confusion of who qualified
- End: April 15, 2025
- YES - Businesses that claimed a PPP loan CAN claim the ERTC
- Qualifications for ERTC: Either/Or qualification;
- Did an official government mandate or order (federal, state, or local) change how you ran your business during COVID-19 in a material manner?
OR - Did your revenue decrease in 2020 or 2021 compared to 2019
- Amount Per W2: Up to $21,000 per W2
- Qualifications for Independent Contractors:
- Filed as a 1099 tax filer in 2021
- Did you or a dependent contract COVID-19 in 2021?
- Amount Per 1099: Up to $32,000
The PPP loan program and the ERTC (aka ERC) programs were launched to assist American workers during the COVID-19 Pandemic. Despite the misinformation and confusion caused by numerous changes, the PPP program was an immediate cash infusion into millions of businesses with minimal vetting, attracting scammers to game the loan program.
In contrast, the ERTC program was a temporary change to U.S. tax laws, providing for a future tax refund to those who amended their qualified tax refunds, which the IRS can compare to ensure qualification and proper payment - if you apply.
"Every business owner and independent contractor should go through the full no-cost analysis," stated Chase Henderson, President of Economic Recovery Center. Henderson continued, saying, "We are talking about a refund of their taxes, not pulling in tax dollars from others; it is literally their money that was overpaid and will be funneled to other programs if not claimed."
Even if your business has shut down or you are no longer an independent contractor, you may still qualify. Go to IRS.Gov or for a no-cost, no-commitment analysis, go to:
Or
For immediate assistance, visit www.EconomicRecoveryCenter.com or contact our office at (385) 376-2372.
About Economic Recovery Center
Economic Recovery Center specializes in helping businesses navigate financial relief programs for Americans. Our team has helped hundreds of American workers successfully claim the tax credits or relief refunds they need.
Visit: www.EconomicRecoveryCenter.com
Call: (385) 376-2372
Media Contact:
Chase Henderson
Economic Recovery Center
Chase@EconomicRecoveryCenter.com
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SOURCE Economic Recovery Center