The COVID-19 epidemic posed several challenges and tribulations; lives were lost, loved ones were separated, and unemployment was on the rise. Many individuals were affected by this gruesome pandemic as they struggled to survive on inadequate earnings in the face of rising prices.
Towing firms were one of the many industries impacted, as supply chain concerns plagued their day-to-day operations. Taking note of such difficulties, IRS Tax Credit Pros, a company dedicated to assisting COVID-affected businesses in re-establishing themselves, aids the towing industry by offering maximum employee credit. Thanks to their innovative approach, IRS Tax Credit Pros have solved and eliminated widespread issues the towing business has encountered. Below are just a few ways towing companies have suffered through the pandemic.
- Towing companies have seen a huge decline in the services offered to customers.
- Their operating hours were cut down due to sanitation issues.
- They have seen almost 50% and 20% reduction in gross revenue in any quarters of 2020 compared to 2019 and 2021 compared to 2019, respectively.
- The industry suffered from the inability to access equipment as new tow trucks and repair parts were in short supply.
- Government contracts were affected.
When IRS Tax Credit Pros noticed that the towing sector was struggling, they decided to take action. The tax credit corporation uses the Employee Retention Credit scheme, which is permitted by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), to assist them in regaining their footing. This program encourages businesses to continue paying their employees during challenging times.
The tax credit enterprise has laid the foundation for positive returns where employees had to endure the cut in hours. With their well-versed knowledge of tax credits, they have initiated a plan where they utilize an automated system, expert analysis, and AI support.
With an automated system, the tax credit company is helping towing industries earn maximum credit, empowering them to keep their staff employed. Moreover, through expert analysis, the company assists tow trucks in getting back into business with more concrete hours. Their expert team is also utilizing AI assistance to analyze every application and every case to determine eligibility and suspension.
Fully aware of the adversities caused by the pandemic, IRS Tax Credit Pros is catering to the needs of businesses and employees. Their innovative and unique process toward helping towing trucks is a stepping stone, compelling other tax companies to carry on the initiative.
Whether you work in the towing business or not, IRS Tax Credit Pros has you covered. Click here to get a free consultation.
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