What is the erc? The employee retention credit is a relatively new stimulus package. It was launched in March 2020.
So you heard right, the erc employee retention credit is something that’s available to businesses all the way back from march 13th 2020 all the way through the end of quarter three of 2021. We’re talking about business owners who have w-2 employees. You could have between 5 and 500 employees. It’s not limited to mom-and-pop shops.
This isn’t something that is you know in conflict with other government programs like stimulus checks, ppp you can still get this even if you got all that money as well in fact uh public organizations we’re talking, you know universities, non-profits even tribal businesses, they all can qualify for erc.
I’ve partnered with the good folks at the erc specialists bottom line and they are a company, i mean this is new legislation, they’ve been in business helping businesses get money from the government since 2009. i’ve personally vetted the ceo and their sole purpose is to help business owners with w-2 employees who qualify for erc to file the appropriate paperwork with the irs and get their money now, this is of no upfront cost to you.
When you get paid, they take a small amount. This fee is when you actually receive your grant check. This is not a loan, it’s money you have already paid. This governmental program will allow the IRS to return it to you. Let’s now take a look at some 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.
It’s quite simple, but there are other qualifying factors. This qualifier will apply to 2020 or 2021. now simply put, if your business or trade was partially suspended because there was like a governmental mandate that placed restrictions on your business, like you got to close your doors or you gotta have reduced capacity, then you could qualify for erc even if you were doing better in 2020 and 2021 compared to 2019.
You can still continue doing your business but the governmental shutdowns basically interrupted your typical operations. Recently there’s a qualifier, it’s like a supply chain disruption. Imagine your business being impacted nominally, which is more than 10% because you can’t obtain the supplies you need. This is going to bring in many other essential businesses. think of the manufacturers, i was talking to like one of my auto mechanics. he was like yeah we never shut down we actually did better than before.
It’s almost like “I know” but if your business couldn’t obtain the parts it needed, such as tires or transmissions, then that would be another qualifier. You’re likely to be able get some money in 2020 as well as 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
To learn more about is erc taxable explore our web page