This Employee Retention Tax Credit (ERC) rebate application service has been introduced by BottomLine Concepts and Alonso Colina to help employers take advantage of several changes to the program, which have expanded the maximum claimable amount up to $26,000 per employee ($10K is the average for companies that received PPP).
More information about changes to the ERC, the maximum allowable rebate, and the eligibility requirements can be found at https://bottomlinesavings.referralrock.com/l/ALONSOCOLI58
Research from the National Federation of Independent Business (NFIB) shows that only about a third of business owners are familiar with the Employee Retention Tax Credit (ERC) program, even though most can qualify for rebates. To help employers determine if they qualify, the newly announced rebate application includes a simple, no-cost eligibility test that is available to any employer.
To qualify for the program, a business must have had 500 or fewer W-2 employees on the payroll during 2020 or 2021, and had their business affected by the pandemic in some way. While this is most often shown through financial losses or temporary closures due to government lockdowns, it can also include many situations caused by the pandemic that resulted in a loss of work capacity.
ERC rebates may also be claimed by businesses that reduced capacity due to supply chain shortages, public health restrictions, or remote working limitations. The program is open to businesses of all types, including startups, new businesses founded during the pandemic, and non-profit organizations, including churches, schools, and clinics.
The financial team at BottomLine Concepts specializes in helping small and medium-sized businesses to maximize their rebates, using several changes to the ERC guidelines. While the program initially offered only $5,000 per employee, BottomLine Concepts can now help employers claim up to $26,000 per employee, with no upper limit on funding.
Businesses that have already enrolled in, or received loans through, the Paycheck Protection Program (PPP) are also eligible for rebates, using the new application service. Unlike the PPP, however, rebates claimed through BottomLine Concepts are not a loan, never require repayment, and have no restrictions on how they can be spent.
One satisfied client said, “BottomLine 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.”
More information about the updated ERC application service, no-cost eligibility test, and maximum allowable claims can be found at https://bottomlinesavings.referralrock.com/l/ALONSOCOLI58
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