Can Startups File for Normal Quarters?
Yes. Businesses that started after 2/15/2020 can still file for normal quarters instead of the startup quarters.
If a business started operations after Feb 15th 2020, they automatically qualify for Q3 & Q4 under the Startup Recovery part of ERC.
- No revenue reduction or shutdown needed to qualify.
- Averaged less than a million dollars of top-line revenue in 2020 and/or 2021.
- Only Q3, Q4 of 2021 w/ a max $50k credit per quarter. If they also had a qualifying shutdown/supply chain disruption/revenue reduction, they can qualify as normal.