Helping American businesses reinvest in themselves.
Claim your COVID payroll refund
- Up to $26,000 per employee
- Qualify with a Revenue Decline or a Full/ Partial Suspension of Operations due to Governmental Orders
- You can receive refunds even if you received PPP
- No upfront fees.
Time Is running Out | 2020 Deadline
April 15, 2024
Time Left to Apply:
Some of our long-standing customers
ERC is a government 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 – that you can claim for your business.
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Determine your eligibility
Many businesses like yours were impacted by Covid and may qualify.
Change in business hours
Supply chain or vendor interruptions
Reduction in services offered
Reduction in workforce or employee workloads
Lack of travel and group meetings
... and more
Then you may qualify for up to $26,000 per employee.
Hear what some of our ERC Clients are saying...
Cape Cod Children’s Place’s experience with Bottom Line was exceptional. Navigating all the different financial benefits for non-profits that remained open during COVID was challenging. Bottom Line made it easy as they walked us through the application and provided to us what to expect in the process. We are fortunate to be able to support our staff that provided services….
Cindy Horgan, Executive Director
Cape Cod Children’s Place
Their team was available to answer my questions and provide information to help us to apply for the credit. Once we submitted information to Bottom Line, they gave us a realistic estimate of the time it would take for their team to process our application and submit it, including preparing all the necessary documentation for the IRS. They made their….
Steve Contreras, Business Manager
Our Mother of Sorrows Parish
My organization is profoundly grateful to Bottom Line Concepts for helping us with our filing for The Employee Retention Credit. We received a refund in excess of $200,000. There are so many nuances to the IRS program and Bottom Line helped us navigate through all of them. I could not have done this on my own. ….
Danny Bernstein
Backyard Sports
Thank you for all Bottom Line did for me. I had made the assumption that I wouldn’t qualify for the ERC program, and was I wrong! The process was seamless and painless. I highly recommend Bottom Line Concepts to every small business I come in contact with.Thanks again!….
Andy Rittberger, President
Carl Rittberger Sr., Inc.
We found out about Bottom Line Concepts through a client. He encouraged us to check with them and find out if our company qualified for the ERC reimbursement. We are glad we did. BLC successfully filed the paperwork on our behalf after reviewing our financials. Reimbursement from the Department of the Treasury was approved, and refund checks were issued….
Yvette Kidson, VP
German Car Repair, Inc.
We were very pleased with BLC’s performance all through this process. Your team was professional and responsive, as were you, whenever there was a question regarding procedures. Thanks again for all your help as I know we would never have been able to achieve these results without you…..
Ralph Johnson
Color Technology Inc
Working with Bottom Line Concepts, LLC was a positive experience and made the ERC program easy to navigate. Joseph Kimbler and Meagan Farrare’s team were professional and prompt which made the application process simple and straightforward. As a small business owner, it was a reassurance to have the BLC team helping us…..
Leah Barker, Secretary and Treasurer
QuikSpray LLC
Our nursery school was so happy to net over $150,000 for the ERC refund. We are using it to do some long, long-overdue renovations.
The people at Bottom Line Concepts were very efficient and friendly…..
Kathy Abbott, Director
The Sprout House
Bottom Line Concepts was able to deliver on the ERC filing in a timely and efficient manner. Throughout the process they were responsive to our questions and concerns, and as a result we received our funds in a timely manner. We greatly appreciated their professionalism. . .thank you BottomLine!….
Don Mackay, CFO
Remote Area Medical
BLC has proven to be a thorough, professional company to partner with when filing for the ERC. They make the process seem simple as they do the heavy lifting for you. Even with a large volume of clients going through the process, they maintained clear and consistent communication from verifying if a business is eligible to the timing of receiving….
Dianna Worthington, CFE
neighborly
Bottom Line Concepts helped me receive more capital than anticipated. The process was very simple and streamlined and their team was there to help every step of the way. Based on my experience, I would recommend Bottom Line for your ERC needs…..
Scott Bryant, CEO
Pineworx
I hired Bottom Line Concepts to help me navigate the complexities of the ERC Tax Credit program. The people at Bottom Line did a good job of walking me through the process and making it easy for me. I received my ERC refund a few months after filling out the paperwork. I am very satisfied with the service provided by….
Eric Shapiro, CEO
Beaker & Surface-Tech LLC
Bottom Line Concepts has been an absolute game-changer for our company. Their expertise in navigating the ERC refund process was effective and impressive. Thanks to them, we received a substantial refund that has significantly improved our financials and morale! This unexpected injection of funds allowed us to reinvest in crucial projects, hire additional staff, and strengthen our cash flow. Bottom….
Brian Nasajon
Beaker & Gray
I was very pleased to have worked with Bottomline, All I had to do was provide them with some papers and info and they did the rest. It took a few months to get the money for the ERC Program but I didn’t mind. Someone had always kept in touch which was nice, you wasn’t forgot about. When the money….
Leslie Bates, Business Owner
Bates Recycling LLC
This was our first time using Bottom Line.
Honestly from the first email to the final email when the job was done, it’s been simple and pain free.
Questions answered timely and efficiently.
Experience has been 5 stars…..
Tammy Estep, Accounting Manager
Oversized Box
My name is Bill Goins. I own and operate Goins Automotive Service Inc. in Mt Washington KY. A representative from Bottom Line approached me and let me know there was a tax refund for staying open and working through COVID. Kamryn Cantu helped us recover a tax refund I didn’t even know was available. She took care of everything….
Bill Goins, Business Owner
Goins Automotive Inc.
BLC was great to work with. You guys were responsive to me during the process and delivered on what your estimates were. I definitely could not have done it without you guys. It was a great experience and would recommend you all to anyone in need of assistance in obtaining their ERC…..
Christopher W. Wadsworth, Managing Partner
Wadsworth, Margrey & Dixon LLP
I met Omar at Bottom Line Concepts a couple of months ago concerning the ERC program. I gave Omar the paperwork that he asked me for and after a few weeks we received all the returns from the IRS. His service was very professional. He did the same job for my business partner in a different company, and they are….
Gabriel Marcovich, CEO
DGI Logistics
I’m incredibly grateful for the assistance provided by Bottom Lines Saving with my ERC refund. Their expertise and dedication made the process smooth and efficient. Highly recommended!….
Hernan Carnevalle, Business Owner
Holi Petit Restaurants
The process of applying for the ERC program was handled immediately, and the information was given to the IRS within a week of me giving Bottom Line Concepts the information. Omar and Bottom Line Concepts handled everything in a very professional manner and kept us up on where everything was at along the way. We highly recommend them to anyone….
Mike Gaddis, Business Owner
Cole Apparel
I was extremely pleased with the effort and results the team at Bottom Line Concepts did in helping my company secure payroll relief during 2020 and 2021. I have recommended friends and collegues who own companies to work with them as well. ….
Patrick Ard, CEO
ARD APPRAISAL Co.
Bottom Line Concepts was a pioneer in providing our school with information about the Employee Retention Credit (ERC) under the Coronavirus Aid, Relief and Economic Security (CARES) Act. With the support of their knowledgeable staff, we were able to apply for the credit in a timely manner. ….
Illiana Perez, CEO
Kingdom Academy
Bottom Line provided a very good service in obtaining the ERC for our company. We are sure to use their services again in the future…..
Claudio Kalili, Business Owner
Sagrado Cafe
Jefferson Behavioral Health System has worked with Bottom Line Concepts for the past year. They are an outstanding company that creates a true partnership with their clients. They are always available to meet with and thoroughly answer any questions in a timely fashion. We are well pleased with their efforts in helping us to apply for and receive Employee Retention….
Anthony Sheposh, CEO
Jefferson Behavioral Health Systems
My experience working with Gonzalo from Bottom Line was amazing. They deliver what they promise for all my companies, and I definitely recommend them. ….
Ivan Gomez, Business Owner
Big G Roofing Inc
Bottom Line was very easy to work with and kept in constant communication with us every step of the way. We were initially apprehensive but Bottom Line explained the entire process to us and remained available to us any time questions arose. I would highly recommend that business owners who are interested in ERC funding work with Bottom Line…..
William Holland, Business Owner
5 Star Cares, Inc
Bottomline Concepts has the best service ever! I literally had zero stress and they made it so easy for us to retrieve our ERC. Their staff is kind and considerate and made everything effortless. We received our ERC checks from the IRS exactly when they told us to expect them. It’s saved our business! Covid was very hard on us….
Asha Deliverance, President
Pacific Domes
We highly recommend Bottomline.
We were delighted by the efficiency, speed and results that Bottomline provided, from the moment we first engaged with them through to project completion.
The process and documentation were presented clearly which gave us immediate confidence that the project was in good hands. ….
Charlie Mason, Controller
Intensity Fitness-Tennis-Dance
You guys are fabulous and easy to work with — outstanding at each level. Everyone was knowledgeable, patient, understanding, and always helpful throughout the whole process. We have recommended Bottom Line to numerous other companies that we work with. I have talked to other companies who have used someone different and all I heard was horror stories. So when I….
Peter Macaluso, Business Owner
Melissa Lightning, Inc.
Throughout the entire process, everyone I spoke with at Bottom Line Concepts was incredibly kind and patient. I am immensely grateful that I did not allow my initial skepticism to sway me from following through with their services. Otherwise, I would have missed out on receiving a substantial amount of money. Thank you, Bottom Line Concepts, for your outstanding work….
Monica Laborin, Operations Manager
Delcas Auto Collision
My experience with BLC was great. Mr. Kimler was really helpful and attentive. I found it very easy and comfortable working with him. I really appreciate him helping me with my Employee Retention Credit refund. He always answered my calls and questions. I would definitely go back to Mr. Kimler for any other questions that I may have concerned my….
Maria Acevedo, Business Owner
Acevedo Contracting
My direct representative at Bottomline was Peyton Blakney-Moore. I was extremely impressed with all my interactions with her and her clear and professional updates to keep me informed of how the process was proceeding. This is one satisfied customer! ….
Dave Davenport, Business Owner
Chili Gas Inc
We were referred to Bottom Line Concepts by a colleague; our project manager was Peyton. I cannot recommend them highly enough. Throughout the seamless process, their professionalism, efficiency, and expertise made them an invaluable partner in our journey to ERC success. Peyton and the team not only helped us navigate the complexities of the program, but also ensured that we….
Hal N Arnold, D.M.D
I just wanted to say thank you to the entire Bottom Line team that helped us navigate the ERC program. From the onset the team was polite and professional, even when we threw them some challenges. First, our payroll company was supposed to be working on the filing, but we learned they hadn’t touched it for months. Thankfully, we went….
Brian Greer, Business Owner
Liberty Transport
In March of 2021, Bottom Line Concepts was introduced to me. I had no idea I was eligible for the ERC credit. I am beyond grateful for retaining Bottom Line. They explained exactly why I was eligible and how this process would work. They made it so easy. Always responsive and available. I was always up to date. Every question….
Mark Labib, Franchise Owner
Home Instead
My recent experience with Bottom Line Concepts was AAA+. The entire process was professionally handled and easy to do. The staff was always available to answer questions. Our refund was received in the time frame we were told to expect it. I have recommended Bottom Line Concepts to my business associates explaining it is money you could be eligible for….
Karen Jung, Moss & Post LLC
Moss & Post LLC
Thank you Bottom Line for all of your assistance in helping my business, Care For Me Home Health with our ERC credit. The process was fast and expedient and the staff were able to answer all of my questions. Thanks and I will be referring my colleagues to you…..
Danielle Darden, Senior Director
Care for Me Home Health Services LLC
I actually didn’t totally belleve we would qualify for such a large credit, but once understanding that there would be no cost to us unless we received a credit, I decided to proceed. Bottom Line guided me on what was needed to submit the amended tax returns. It did take some time on my part, but it was so worth….
Nancy Ruiz Gordon
NIKIG&BM INC
I was introduced to an ERC advisor at BottomLine Concepts very early in the span of the Employee Retention Credit program. Very little was known about this Federal program within my franchise, but from our first meeting with their ERC team, they were incredibly knowledgeable and patient with our extensive internal review process. We spoke with Client Relations, Accounting, Legal,….
Barry Goodman, Regional Developer
The Joint Chiropractic
I was referred to Bottom Line Concepts through a friend who had previously used their services and was very satisfied with the results. Prior to engaging with Bottom Line, I was working with another firm that promised massive returns, but they seemed inexperienced with our type of business and it created a frustrating process. I then met with members of….
Mike Tozier, Chief Financial Officer
Brown Wilbert, Inc.
I have to admit I was skeptical that we would qualify for anything at first. Everything I had read about ERC said that if we stayed open or had an increase in gross receipts during COVID, then we would not be eligible to receive a refund. After connecting with Melanie from Bottom Line Concepts and answering some of her questions,….
Jen Santos, Vice President
Danny's Appliance
Working with Bottom Line Concepts was a great experience!
Once all the paperwork was
completed, the process
went faster than
expected, and we received our money in a timely manner! Thank you Bottom Line Concepts!….
DeAnna Davis
JD & Sons Complete Construction LLC
Our company engaged BottomLine Concepts in the spring of 2023 for assistance with the Employee Retention Credit program available for qualified businesses.
They
were
informative about the different requirements and regulations, and they helped our team understand the process from start to finish. We highly recommend Bottom Line Concepts for their assistance with the ERC program as it can be a complicated process….
William Koehler, Jr., Owner
Wash Your Way RVA
Bottom Line Concepts was very helpful in simplifying the ERC application process and worked with us every step of the way.
Their expertise and skillful handling of the paperwork was particularly helpful for my small business, which suffered tremendous hardship due to the COVID-19 pandemic. Because of Bottom Line’s diligent work, we received money that we’ll be able to invest into….
Richard J. DeCesare, Franchise Owner
16 Handles Frozen Yogurt
I am incredibly grateful to Bottom Line Concepts for facilitating a quick and seamless process in helping my small business, Ba-Tampte Pickle Products, Inc., receive its ERC grant in 2022. Their unwavering professionalism and attention to detail helped us garner favorable and timely results. It was also nice to work with a firm that sees the value in helping small….
Howard Silberstein, CEO
Ba-Tampte Pickle Products, Inc.
We signed up with Bottom Line Concepts and they were professional, proficient and polite! We really appreciated their promptness and guidance through the ERC application process. It was very helpful and I would recommend them to any client, friend or family member!….
Terrence M. McShane, Esq.
McShane P.C.
I am incredibly grateful to Bottom Line Concepts for facilitating a quick and seamless process in helping my small business, Ba-Tampte Pickle Products, Inc., receive its ERC grant in 2022. Their unwavering professionalism and attention to detail helped us garner favorable and timely results. It was also nice to work with a firm that sees the value in helping small….
Howard Silberstein, CEO
Ba-Tampte Pickle Products, Inc.
If it wasn’t for Bottom Line Concepts, I would have never been aware of the ERC program. The team was instrumental in handling and filing the necessary paperwork with the IRS, and I was very pleased with the grant amount that came back to my business. This grant was critical in helping my dry-cleaning store survive the pandemic, allowing me….
Aldo Cataldo, President
Aldo's
I can’t thank you enough for your help with the ERC process. We’ve been contacted by hundreds of sales reps from other companies and ignored them all. Your call was the first I took seriously which allowed me to learn about our potential credit. I was skeptical but you were patient and communicative and you stuck with me. You made….
Erin Smith, Chef & Owner
Feges BBQ
I met my BLC Advisor when he stopped into one of my locations and happened to be there that day. I had not heard of the ETC, but after a quick discussion, I was interested in hearing more about the opportunity. A few days later, we had a 15-minute call about the grant, Bottom Line Concepts, and specifics on how….
Michael Bertanza, Owner
The Tasty Yolk
After learning about the Employee Retention Tax Credit program, I eventually decided to call Bottom Line Concepts. I could not be happier. They were very helpful in explaining the program and also helped us through the process. I was able to use the funds to help my business fully recover from our state’s mandated six month closure. I was also….
Mark Lefkowitz, Owner
Club Pilates New City
Joseph at Bottom Line Concepts did a great job of guiding us through the application for ERC funds. The process was quite simple and we received our monies in about six weeks, collecting a refund much larger than we expected…..
Pat Hilliard, Operations Manager
Catch The Fire Raleigh Church
Our experience with Bottom Lines Savings was wonderful. It was a simple
— they requested
information, I sent it, the company completed the process, they handled the rest of the process, received our funds, and then I paid for their services.
Bottom Line Concepts kept me updated throughout this entire process. Thank you so much!….
Tim Poteet, Owner
4P Metals, LLG
Bottom Line Concepts delivered as promised with their AP Recovery Audit. Multiple legitimate opportunities were identified and recovered through their proven approach, bringing back value to our organization. The BLC team have been great partners throughout the whole process. I especially appreciated that even Josh, BLC CEO, would take the time to check in to see how things were going…..
Adrien Pouey, Sr. Manager of Global Delivery Center
Uber Technologies, Inc
“Bottom Line Concepts delivered as promised with their AP Recovery Audit. Multiple legitimate opportunities were identified and recovered through their proven approach, bringing back value to our organization. The BLC team have been great partners throughout the whole process. I especially appreciated that even Josh, BLC CEO, would take the time to check in to see how things were….
Uber
Uber Technologies, Inc
“We have worked with Bottom Line on a number of savings and refunds projects. Each of their programs required very little time and effort on our side, while delivering great results. Their team has always been courteous and attentive to our needs. Whenever we have needed something, they have gotten back to us right away. After all these years of….
John Kendrick, CFO
Nobu
“Bottom Line Concepts has terrific leadership and fulfills its promise to add value by contributing to the bottom line of your organization. They promised us positive results and delivered on their promise! There are very few no risk/all reward opportunities available today in the business world. Bottom Line Concepts offers such a proposition!”….
David Brandon, Chairman of the Board
Domino's
“The Government Programs that are part of the Cares Act can be very daunting and confusing to understand. Our franchisees were getting a lot of mixed messages and we were looking for a firm that could help educate them and guide them through the process. Bottom Line was extremely patient and diligent working individually with most of our franchisees to….
Travis Mellish
College H.U.N.K.S
“Bottom Line Concepts has been an amazing partner who has helped with cost savings as well as tracking down funds which belong to us. Even with our thorough review of vendors and relationships they have been able to shed light in areas where we thought we could not improve any further. They have an extremely professional and reliable team that….
Daniel Grgorinic, Finance & Operations Director
Audemars Piguet
“We engaged Bottom Line Concepts to take an independent look at a few of our expense categories. In certain areas, we were pleased with the steps we had taken internally to achieve some level of cost savings on our own. In other areas, Bottom Line Concepts opened our eyes to creative solutions we never could have envisioned on our own…..
Mark W. Goldberg, CFO
Rolex
“When my firm invests in companies, we do our best internally to help those companies grow and become more profitable. We discovered that collaborating with Bottom Line enhanced that process for us. Each dollar saved, allows us to show a higher return to our investors over time. Bottom Line has worked with us on a number of our portfolio companies,….
Marc Lasry, Owner
“GNC started their partnership with Bottom Line Concepts in late 2019 with a simple call from the CEO and founder of the company, Josh Fox. The staff at Bottom Line Concepts made the contract and onboarding process easy. Since late 2019, Bottom Line Concepts has been able to recover a substantial amount of unclaimed property for GNC. GNC continues to….
Ted Shmit, Sr. Director Financial Shared Services
“We engaged the services of Bottom Line to assist us squeeze savings out of certain expense items – and they were successful in areas where we had no such awareness. While they scoured for additional savings opportunities, we initiated a major restructuring – and Bottom Line was both flexible and understanding of the impact that had on some of the….
Kenneth P. West, CFO
How it Works
See if you qualify
Evaluation regarding your eligibility
File Claim
We analyze your claim and submit the paperwork on your behalf
Get Your Money
Receive up to $26,000 per employee that you don’t have to pay back to the IRS
Trusted By:
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of the top 100
Law Firms
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Accounting Firms
10%
of Fortune 1000
Companies
Helping American businesses
reinvest in themselves
“Bottom Line Concepts opened our eyes to creative solutions we never could have envisioned on our own.”
Mark W. Goldberg, CFO
Frequently
Asked
Questions
Have questions? We are here to help.
No. Only W-2 employee wages can be claimed, and you cannot claim your own wages as a majority owner even if you are on a W-2 wage.
No. Only W-2 employee wages can be claimed for the credit.
Yes! You can apply for ERC, but you may not claim ERC on wages paid to family members of majority owners. This includes immediate family plus in-laws, aunts, uncles, and cousins.
Yes! Your business will be able to qualify for ERC if you had a full or partial suspension of operations.
The Employee Retention Credit (ERC) uses qualified wages as the basis for its calculation, which covers any wages paid that are subject to FICA taxes. These qualified wages can include various types of compensation, such as salaries, hourly wages, vacation pay, and certain health plan expenses, among others.
The program began on March 13th, 2020 and ends on September 30, 2021, for eligible employers. You can apply for refunds for 2020 and 2021 after December 31st of this year, into 2022 and 2023. And potentially beyond then too. We have clients who received refunds only, and others that, in addition to refunds, also qualified to continue receiving ERC in every payroll they process through December 31, 2021, at about 30% of their payroll cost. We have clients who have received refunds from $100,000 to $6 million.
Yes. Under the Consolidated Appropriations Act, businesses can now qualify for the ERC even if they already received a PPP loan. Note, though, that the ERC will only apply to wages not used for the PPP.
Your business qualifies for the ERC, if it falls under one of the following:
- 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 receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
“To qualify for the ERC, an employer must meet one of the following requirements:
A significant decline in gross receipts for any eligible quarter in 2020 or 2021- defined as a 50% reduction in revenue during any quarter in 2020 compared to the same quarter in 2019, or a 20% reduction in revenue in any quarter of 2021 compared to the same quarter in 2019.
A full or partial suspension of operations – due to orders from the federal government, or a state government having jurisdiction over the employer, limiting commerce, travel, or group meetings related to COVID-19. “
“Yes, your business qualifies for the ERC with a drop in revenue if it had a significant decline in gross receipts. The meaning of a significant decline in gross receipts differs between 2020 and 2021.
In 2020, a significant decline is defined as a 50% decrease compared to the same calendar quarter in 2019.
In 2021, a significant decline is defined as a 20% decrease compared to the same calendar quarter in 2019.”
Yes. Under the Consolidated Appropriations Act (CAA), businesses can qualify for the ERC even if they already received a PPP loan. Employers are allowed to claim ERC on wages that were not paid with the proceeds of a PPP loan. It is important to note that you can’t use wages to calculate ERC that were used to qualify for PPP loan forgiveness. This is known as “double dipping” and is not permitted by the IRS.
No, unlike a loan, this credit does not have to be repaid. If audited the IRS has the right to claw back the funds.
To qualify, your business must have been negatively impacted in either of the following ways:
- 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 receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
- A business can be eligible for one quarter and not another.
- Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs.
The ERC program covers eligible wages paid to W-2 employees from March 13th, 2020 through September 30th, 2021 for eligible employers.
The employee retention credit (ERC) is a refundable payroll tax credit that was put into law through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The ERC is for businesses that continued to pay employees while shut down due to COVID -19 restrictions or had significant decline in gross receipts from March 13, 2020 to September 30, 2021. This credit offsets employment taxes paid by an employer to offer relief from the COVID-19 pandemic.
The deadline for claiming the ERC for eligible quarters in 2020 is April 15, 2024. The deadline for claiming the ERC for eligible quarters in 2021 is April 15, 2025.
The ERC will be issued in the form of a cash refund that you will receive in the mail from the IRS. The IRS will send checks based on qualifying quarters. You may receivce several checks (e.g., one check per quarter). The IRS reserves the right to use funds as a credit towards back taxes.
“Yes, you will need to refile your income tax returns. The IRS has indicated your company’s wage expense (deduction) on their income tax return must be reduced by the amount of the ERC for the applicable tax year (2020 or 2021). You will need to file an amended federal and state income tax return for the taxable year of the credit to correct any overstated wage deduction.
Note: Any interest paid to you by the IRS would have to be reported on your income tax filing.”
The IRS issued these warnings, as there are many fly-by-night, so-called ERC “experts” or “consultants” that are misrepresenting their experiences and the parameters of the ERC program to employers. The ERC is a complicated tax program that requires deep expertise and understand of the nuances. When choosing an ERC company look for companies with a proven real track record and watch out for red flags (e..g, large upfront cost, no CPAs or tax professionals on staff)
“The IRS Audit period for ERC is:
3 years for 2020 and Q1,Q2 of 2021
5 years for Q3 of 2021 “
While the timeline may vary based on the IRS workload, we are seeing clients receive refunds within a 4-10 month timeframe from filing. The timeline may vary as the IRS’s process varies.
The Employee Retention Credit (ERC) allows employers to claim a maximum credit amount of $26,000 per employee. For the tax year 2020, employers can claim up to 50% of qualified wages per employee, with a maximum credit of $5,000 per employee for the entire year. In contrast, for the tax year 2021, employers can claim up to 70% of qualified wages per employee per quarter, with a maximum credit of $21,000 per employee for the year. However, it’s worth noting that most businesses will only be eligible to claim qualified wages for Q1 through Q3 of 2021.
Unlike a loan or other form of business funding, the Employee Retention Credit (ERC) is a fully refundable tax credit that does not come with limitations on how it can be spent. As a result, businesses that qualify for the ERC can choose to spend their refund in any way they see fit.
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