Employee Retention Credit FAQ Taps Into ERC Credit & IRS ERC Refund Status

by PRC Agency PR

The idea for creating the Employee Retention Credit Program came about after Bottom Line Concepts got aware of the fact that the Employee Retention Credit underwent several changes and has many technical details, including how to determine qualified wages, which employees are eligible. Bottom Line Concepts also found that In a global economic downturn, layoffs have become commonplace. Employees who are uncertain about their future work less efficiently and overall work place morale and environment are diminished.

In order to qualify for the employee retention credit the company must have 5 W2 employees, operate in the USA, and have not already received ERC from the government to be eligible for employee retention credit from the government. If this applies for the business the business is eligible to the ERC credit. In this case the business may answer a few simple question here: https://harperstribune.com/ercfund. Bottom Line Conept, GovernmentAid Program will do the whole process for the business from A to Z. All the business has to do is answer a couple of simple questions. Please only answer the questions if the business has 5 W2 employees, operate in the USA, and has not already received ERC.

The cost of reacquiring employees down the road means hard dollars paid to recruiters and soft dollars on training and education. These facts and trends require specific attention and more intensive review and analysis by a partner just like Bottom Line Concepts because in order to survive the complexity of the marketplace businesses need to be able to find a reliable partner that gives them all the savings and funding programs that they might be eligible for. A partner like Bottom Line Concepts breaks down these complicated government savings programs and comes up with clear answers, plans, actions, and results to its clients.

GovernmentAid, a division of Bottom Line Concepts did something different compared to other businesses in the contingency-based cost savings, audition for refunds, negotiation for savings, and financial relief space, by increasing the profitability and overall valuation of their client’s organizations.

Bottom Line Concepts believes strongly in all species being created equal. Therefore, animal rights, sustainability and protecting the environment for the future generations is paramount to them. Through Bottom Line Concept's “Line Up For Charity” program they give their clients the opportunity to donate part of the cost savings they achieve to causes their clients are passionate about. Bottom Line Concepts provides a work environment where their clients can make a difference.

The Employee Retention Credit Program really came into play during the post Covid-19 phase. 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 businesses can claim. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.

Bottom Line Concepts therefore launched their Government Aid Division to help small businesses impacted by Covid-19 and specialize in Maximizing the Employee Retention Credit (ERC) Program and this is how GovernmentAid, a division of Bottom Line Concepts was specifically created. The GovernmentAid division is specifically dedicated to helping and assisting clients with various forms of financial relief, particularly, the Employee Retention Credit Program.

The ERC program began on March 13th, 2020 and ends on September 30, 2021, for eligible employers. Businesses can apply for refunds for 2020 and 2021 after December 31st of this year, into 2022 and 2023. And potentially beyond then too.

Bottom Line Concepts has 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.

Bottom Line Concepts has clients who have received refunds from $100,000 to $6 million. Businesses can claim up to $5,000 per employee for 2020. For 2021, the credit can be up to $7,000 per employee per quarter. Up to $26,000 per employee can be claimed. There is no limit on funding. ERC is a refundable tax credit.

The GovernmentAid services include a thorough evaluation regarding a businesses' eligibility, comprehensive analysis of a businesses' claim, guidance on the claiming process and documentation, specific program expertise that a regular CPA or payroll processor might not be well-versed or does not eve