Great! You made it!
The IRS is offering rewards to the business owners who made it.
The rewards can be HUGE if you know how to get them.
Answer yes to these two questions and you stand the best chance of obtaining this grant.
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Was the business established on or before February 15th, 2020?
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Did the business employ W2 employees in 2020 or 2021?
Our CPAs specialize in helping small and medium-sized businesses (5-500 employees) get refunds of up to $26,000 per W-2 employee, even if you got PPP funds or did not shut down during the pandemic.
That's not a typo! We can help you get up to $26,000 per employee.
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If you have 10 employees we can help you get up to $260,000.
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With 50 Employees you could get up to $1,300,000.
We've helped over 14,000 clients file for over 2.5 Billion dollars
This is not a loan... it's a special refund based on hour payroll. It's your money to spend anyway you would like, it's not earmarked like PPP. We do it all to specifications. You don't owe us anything if you don't get a refund. We can answer all of your questions. Just give us 10 minutes to discuss. Our CPAs do the rest. Click here to find out if you qualify.
What is ERC?
ERC (Employee Retention Credit) is a stimulus government aid program established by the CARES Act. It is a refundable tax credit – a grant, not a loan – that businesses can claim, and can recoup up to $26,000 per employee.
Who is the ERC Program For?
This program was created for companies that showed a decline in revenue, changes or adjustments in standard business operations, or partial/full business suspension during the Covid-19 pandemic and paid employees on W2 payroll during the years 2020 and 2021.
Is ERC like PPP?
No, The PPP is a loan program that provides funds to small businesses to help them keep their employees on the payroll. The ERC, on the other hand, is a tax credit that businesses can claim for eligible wages paid to employees during the pandemic and do not need to be repaid. Businesses that filed for PPP are also still eligible to receive ERC.
Need Assistance Call 619-597-2806
WE LOVE QUESTIONS: We encourage you to ask questions. We are standing by. Give us a call.
Does My Business Qualify?
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Did the business employ W2 employees in 2020 or 2021?
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Did the business experience a decline in revenue during those years?
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Did the business experience a change in standard operations during those years? Some examples include:
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Change in business hours
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Partial or full suspension of your operations
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Shutdowns of your supply chain or vendors
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Reduction in services offered
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Reduction in workforce or employee workloads
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A disruption in your business (division or department closures)
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Inability to visit a client’s job site
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Suppliers were unable to make deliveries of critical goods or materials
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Additional spacing requirements for employees and customers due to social distancing
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Change in job roles/functions
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Tasks or work that couldn’t be done from home or while transitioning to remote work conditions
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Lack of Travel or Lack of Group Meetings
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What about a Business's Existing CPA?
Many businesses will ask "Why don't I just file ERC with my CPA?" - The truth is because of the complexity of the ERC stimulus program and its various changes over time, many CPAs and standard accountants do not have the experience or know-how in understanding how the program works, whether a business is eligible or what qualifies a business, and how to file for ERC. With our ERC program via Bottom Line Concepts, they have perfected and streamlined this process and have a proven track record along with the resources to recover the most funds as quickly as possible.
Important Facts
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There are various factors that can affect the eligibility of ERC. Also, many businesses assume they do not qualify because of various assumptions. Here are some hard facts that will help:
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Even if companies received PPP, they still qualify for ERC.
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Even if your business did not have a revenue reduction or was deemed essential, they still qualify for ERC
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ERC is a refund in the form of a grant and can return up to $26,000/employee ($10,000 is the average for companies that received PPP, $20,000 is the average for businesses that didn't)
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Simple operational impacts can qualify a business for ERC as well such as change in: job roles, business hours, reduction in services or workforce
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This stimulus program was established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that your business can claim. The program is based on qualified wages and healthcare paid to employees.
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Businesses have until April 2024 to claim ERC retroactively for 2020, and until April 2025 to claim ERC retroactively for 2021. They have the ability to do a look back on their payroll during the pandemic and retroactively claim the credit by filing an amended tax return.
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For tax year 2021, the refundable tax credit is: 70% of qualified wages paid per employee (up to a maximum amount of $7000 per employee, per quarter and up to $21,000 for the entire year)
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For tax year 2020, the refundable tax credit is: 50% of qualified wages paid per employee (up to a maximum amount of $5000 per employee for the entire year)
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Independent contractors (1099) and the compensation paid to these individuals are not eligible for ERC
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Typical turn around times for funds to be collected from the ERC program is 3-6 months.
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To date, 84% of businesses have not filed for ERC, and most do not even know this program exists.
Our Missions Align
We go out of our way to find the best ways to help you with your business needs. That's why we have affiliated ourselves with Bottom Line Concepts whom has recovered $2.1 billion in ERC refunds for 13,000+ businesses just like yours. Interested in joining our Affiliate Program click here.
Need Assistance Call 619-597-2806
WE LOVE QUESTIONS: We encourage you to ask questions. We are standing by. Give us a call.
Why We Chose To Work with BottomLine CONCEPTS
We only work with the best in the industry. Bottom Line Concepts has a proven track record in assisting companies to recover taxes and wages they have already paid on their W2 employees with zero upfront cost to the business. Their experienced, knowledgeable, and dedicated team will handle the entire process from beginning to end with the IRS on behalf of the business and work closely with them to collect necessary documents and recover the most possible funds as quickly as possible.
They have a proven track record. Bottom Line Concepts has filed over 16,000+ claims on behalf of small businesses for grants recovering a total of over $3 billion.
HOW DOES THE PROGRAM WORK?
STEP 1: Get pre-qualified for ERC
Every single business owner who files their ERC through this program will start off on a dedicated one-on-one call with and expert ERC Advisor. Bottom Line has over 60 full-time in house expert ERC advisors who not only are super friendly, but extremely well trained.
STEP 2: Submit required documents
Bottom Line will work with the business owner to collect and organize necessary documents to begin preparing the filing. This includes the 941 Forms (Quarterly Federal Payroll), Payroll data per quarter in an excel spreadsheet, and any existing PPP or PPP forgiveness documents. They provide an easy online document upload / questionnaire to help the client send over the docs.
STEP 3: Prepare the ERC filing and amend necessary documents
With over 40 full-time forensic accounts working around the clock, Bottom Line goes to work analyzing the data provided by the client, and making all the necessary calculations to prepare the ERC filing. They also include the process of amending the 941 forms into the required 941x forms. This is a very complex and intricate process. Luckily Bottom Lines has the expertise and system to get this done as efficiently and accurately as possible.
STEP 4: Submit the ERC Filing directly to the IRS
Once the ERC filing is ready, the total ERC tax refund amount is calculated and presented to client. Upon the client’s approval the 941x Forms are submitted to the IRS on clients behalf.
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All the steps above can be completed within 2-4 weeks depending on the clients responsiveness and ability to provide necessary documents for the ERC filing.
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The following steps can take anywhere between 4-12 months depending on the size of the business (amount of W2 employees) and the complexity of the filing.
STEP 5: Approval from the IRS
Both Bottom Line and the client get a notification from the IRS that the ERC claim has been approved, and for how much.
STEP 6: Receive Payment from the Client
Client receives their check, and Bottom Line invoices the client to collects their contingency fee.
STEP 7: We don't get paid until you get paid
Once Bottom Line has recovered funds directly from the client based on the contingency fee, a portion of that is paid to iHub Inc on the 15th of each month then distributed to Gold for our efforts.
Need Assistance Call 619-597-2806
WE LOVE QUESTIONS: We encourage you to ask questions. We are standing by. Give us a call.
IRS Links and Articles
These articles will provide additional background on recent developments with the ERC program: