Medical practices, dental practices, and hospital-affiliated organizations were all significantly impacted during the pandemic. Those that experienced fully or partially suspended operations due to pandemic-related governmental orders still have the opportunity to access cash relief in a refundable employee payroll tax credit—the Employee Retention Credit (ERC). With credits often exceeding the initial payroll tax liabilities themselves, the ERC has already awarded millions of dollars to a broad spectrum of employers, including medical and dental practices and hospital-affiliated organizations. And unlike PPP and other similar pandemic relief programs, the ERC was never limited by available federal funds, so any business that qualifies and applies can still find ERC relief!
Numerous government orders restricted a broad range of ordinary business operations in the industry—and you may be one of many employers entitled to substantial cash benefits. If you operate a medical practice, dental practice, or hospital-affiliated organization, don’t wait to find out if you qualify!