Employee Retention Credit - ERC Bottom Line Savings

Time Left to Apply:

Helping American businesses reinvest in themselves.

Claim your COVID payroll refund

Time Is running Out | 2020 Deadline

April 15, 2024

Time Left to Apply:

Some of our customers

01. ERC Explained

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.

02. Qualifying is fast and simple!

Many businesses like yours were impacted by Covid and will 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 probably qualify for up to $26,000 per employee.

America’s Leader in Employee Retention
Credits

“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. The end-to-end engagement was very professional, diligent, and painless. I highly recommend Bottom Line Concepts for any Finance Operations recovery needs.”

Uber

“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 working with them, we’re happy that we hired them.”

John Kendrick, CFO

“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

“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 maximize their money during the pandemic. They were a great partner and we look forward to a long-lasting relationship.”

Travis Mellish

“Bottom Line Concepts has been helping us identify cost savings in a number of different areas and in a short amount of time has already identified six figure savings. Their staff members have been great to work with and have made the process seamless and easy, requiring only a limited amount of time and energy from our internal staff to manage the process. They have been a great partner of the Boston Red Sox and we are very pleased with their services.”

Tim Zue, CFO

“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 is always ready to help. Looking forward to building the relationship further and finding additional cost savings.”

Daniel Grgorinic, Finance & Operations Director

How it Works

Get Qualified

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:

30%

of the top 100
Law Firms

30%

of the top 100
Accounting Firms

30%

of Fortune 1000
Companies

Helping American businesses
reinvest in themselves

Don’t wait! This program will end soon!

“Bottom Line Concepts opened our eyes to creative solutions we never could have envisioned on our own.”

Mark W. Goldberg, CFO

Frequently
Asked
Questions

Can I apply for ERC if I'm self-employed?

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.

Can I apply for ERC if I have 1099 employees?

No. Only W-2 employee wages can be claimed for the credit.

Can I apply for ERC if I have family on payroll?

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.

Can I get ERC if my business revenue went up?

Yes! Your business will be able to qualify for ERC if you had a full or partial suspension of operations.

What are qualified wages for ERC?

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.

What time period does the ERC program cover?

The ERC program covers eligible wages paid to W-2 employees from March 13th, 2020 through September 30th, 2021 for eligible employers.

What is the Employee Retention Credit?

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. 

When does the ERC program end?

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.

How do I receive my ERC refund?

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.

Do I have to refile my income taxes return if I apply for ERC?

“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.”

Why did the IRS issue a warning about 3rd party processing companies?

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)

How long does the IRS have to audit my ERC?

“The IRS Audit period for ERC is:
3 years for 2020 and Q1,Q2 of 2021
5 years for Q3 of 2021 “

How long will it take to receive my refund?

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.

How much ERC can I claim per eligible employee?

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.

Are there any restrictions on how I can spend my ERC refund?

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.

Will I have to repay the ERC?

No, unlike a loan, this credit does not have to be repaid. If audited the IRS has the right to claw back the funds.

Does my business qualify if we've already received PPP?

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.

Can my business qualify with a decline in gross receipts?

“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.”

How do I qualify for ERC?

“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. “