What is the Employee Retention Credit (ERC)?

ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.

Established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.

The Employee Retention Credit (ERC) is a payroll tax refund from the United States Treasury Department applicable to businesses who kept employees on payroll during the pandemic.

Bottom Line Concepts has announced that it offers simplified services for the Employee Retention Credit Program (ERC).ERC is a stimulus program designed to help businesses retain employees during the Covid-19 pandemic. It is a refundable tax credit, not a loan that companies can claim.

ERC Qualifications

Bottom Line Concepts has announced that it will offer simplified services for the Employee Retention Credit Program (ERC). The ERC is a stimulus program designed to help businesses retain employees during the Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit, a grant, not a loan – that companies can claim.

While the general qualifications for the ERC program seem simple, the interpretation of each qualification is very complex. Our significant experience allows us to ensure we maximize any qualifications that may be available to your company.

 FULL OR PARTIAL SUSPENSION OF BUSINESS SERVICES

A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel, or restrictions of group meetings.

 GROSS RECEIPTS REDUCTION

Gross receipt reduction criteria are different for 2020 and 2021 but are measured against the current quarter as compared to 2019 pre-COVID amounts.

The bottom line is you were in business during the covid-19 outbreak, and you had W2 employees, then chances are you qualify. The best way to learn for sure is to schedule a 5-7 minute discovery call with a Bottom Line ERC Specialist and they can answer your questions and let you know if you do qualify. Most of the business owners that think they don’t qualify, actually do. My suggestion is that you click here and schedule your call before you even finish this article.

HAVE YOU BEEN TOLD YOU DON’T QUALIFY FOR ERC MONEY?

That is probably not true. Bottom Line reports that up to 50% of the business owners they are recovering ERC Money for in 2023 where originally told they wer not eligible by a CPA, Attorney, or trust and well meaning advisor.

The truth is the program has gone through seven major innovations since it was released two years ago, and unless you are doing ERC claim daily, which Bottom Line Concepts does, it is difficult to keep up with the complex filing requirements and eligibility provisions.

Bottom Line Concepts has announced that it has received notice of approval from the IRS for the Employer Recovery Credit (ERC). This new credit, made available through the Consolidated Appropriations Act, will allow businesses to claim a credit against their payroll tax liability for up to 25% of qualified wages paid to employees. Bottom Line Concepts was one of the first companies in the country to receive this approval and they have been helping companies utilizing the ERC to offset costs associated with the Payroll Protection Program (PPP).

Bottom Line Concepts is the number one ERC recovery firm in the USA. To date they have helped over 13,000 business owners recover nearly 3 BILLION DOLLARS in recovered ERC funds. The buzz has started and along with that there are many fly by night ERC collection companies popping up daily , so be very careful about who you partner with. 400 of the Top 1000 firms in the USA are bottom line clients.

The ERC is available to businesses and non-profits and refunds employees’ past salaries and health care costs during 2020 and 2021. Employees get up to $26,000 per employee with Bottom Line Concepts.

For 13 years now, Bottom Line Concepts has served businesses and non-profits by helping them through the complex but necessary filings for various recovery of funds projects. Since pivoting to ERC, The Employee Retention Credit Program they have completed over 13 000 submissions with an estimated total value of nearly 3 billion dollars in retention credits granted, this company knows what it takes not just to fill out paperwork but keep people employed. In these trying times when every business needs all the help they can get retaining staff, knowing that the consultant is skilled in HR management and taking advantage of government benefits can be a relief.

The Earned Income Credit (ERC) has been available to taxpayers since 1975, but many business owners are unsure how to take advantage of the credit. Bottom Line Concepts is here to help with their new line of services that will guide business owners through every step of claiming the ERC. With experts dedicated to this cause, Bottom Line Concepts wants business owners to maximize their claims and receive the money they deserve.

The Bottom Line employee retention credit program begins on March 13, 2020, and ends on April 15, 2025. Employers can apply for refunds after December 31 of 2021, 2022, and 2023. Bottom Line has clients who have received refunds from $50,000 to $6 million.

The ERC can be used for any past or present employees that have been with the company for more than three months. The steps to receive this credit are simple and can be completed in as little as four weeks.

Small businesses have many options when it comes time to find funding – but one option that often goes overlooked is government grants.

For more information about the Bottom Line program, please click here.