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 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.
They take a small fee when you get paid and that fee is actually when you receive the grant check. this is not like a loan it’s not like free money this is money you’ve 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.
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.
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 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 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
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