What is erc? The employee retention credit is a relatively new stimulus package. It was launched in March 2020.
You heard it right. The erc employee retention credit is available to businesses from March 13th 2020 through the end quarter three in 2021. So we’re talking to business owners with w-2 employees, you could have a business of a 5 to 500 employees and it’s not just limited to like mom and pop shops.
This is not something you have to do with other government programs, such as stimulus checks, ppp. You can still qualify for this regardless of how much you’ve got.
I have partnered with the erc specialists bottomline and they are a company. They help businesses get money from government since 2009, and i personally vetted them. Their sole purpose is to assist business owners who have w-2 employees that qualify for erc, to file the necessary paperwork with the IRS and get their money immediately. This is without any upfront cost.
When you get paid, they take a small amount. This fee is when you actually receive your grant check. this is not like a loan it’s not like free money this is money you’ve already paid. the irs is going to give it back to you because of this governmental program. now let’s take a look right here at a couple of qualifiers. You’ve likely heard of the revenue qualifier. It means that if your gross receipts in 2020 were lower than in 2019, then you will qualify for the entire year.
That’s pretty straightforward but there are other qualifiers, this is actually going to apply to 2020 and 2021. they call it the partial or full suspension qualifier. Simply put, if your trade or business was temporarily suspended by a government mandate, such as closing your doors or limiting your capacity, you may be eligible for erc, even if you are doing better in 2020 or 2021 than you were in 2019.
While you can continue to run your business, the government shutdowns have basically disrupted your normal operations. There’s an exception, it’s like a disruption to the supply chain. imagine that your business is impacted nominally which means more than 10 percent because you can’t get the supplies you need so again this is going to bring in a whole slew of essential businesses. think of the manufacturers, i was talking to like one of my auto mechanics. He said, “Yes, we never closed down. We actually did better than we did before.”
It’s like i know but if you couldn’t get the parts you needed because, let’s say as an example, tires, transmissions, then your business typical operations were more than nominally impacted as a result that’s another qualifier and again you’re probably going to be able to get some money both in 2020 and 2021.
If you are a small business owner and would like to speak with an ERC Specialist then you can give us a call at 1-877-359-3883 or visit us at http://ErcGrantCheck.com
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