Sheridan, Wyoming - The esteemed firm ERC Easy, is urging small businesses in the United States to assess their eligibility for the Employee Retention Credits (ERC) program.
This initiative, established by the CARES Act, offers businesses the opportunity to receive a substantial sum of funds to aid in their recovery from the adverse effects of the COVID-19 pandemic.
The ERC program is designed to incentivize companies to retain their employees, rather than layoffs, in the face of financial difficulties caused by the restrictions imposed by the government's response to the pandemic.
ERC Easy is proud to introduce the services of BottomLine Concepts, whose primary focus is to assist businesses in maximizing their potential ERC benefits, which can reach up to $26,000 per employee. It should be noted that BottomLine Concepts will only collect fees if the business qualifies and receives the grant.
The CARES Act has established a unique program known as the ERC or Employee Retention Tax Credit to support small businesses struggling due to the COVID pandemic.
Unlike the Paycheck Protection Program (PPP), the ERC program is a grant and not a loan, meaning businesses can receive funds to retain their employees without having to repay the amount. Under the current Biden Administration, businesses are now able to benefit from both the ERC and PPP programs, providing a much-needed lifeline during these challenging times.
The amount of funds that can be claimed varies depending on the year and quarter. For 2020, the amount per W-2 employee on the business payroll is $5,000 for the entire year. For 2021, the amount has been increased to $7,000 per employee per quarter for the first three quarters, with the potential for a total of $21,000.
Start-up businesses established during the pandemic may also be eligible for the fourth quarter of 2021.
Most enterprises, including universities, clinics, and non-profit organizations, are eligible for the ERC after the passage of the American Rescue Plan (ARP) Act of 2021.
The IRS has outlined specific conditions for restaurants and food businesses to qualify for the ERC, including a decrease in capacity due to social distancing requirements, the closure of indoor dining services, and the availability of takeout or delivery.
For further information regarding the ERC program and eligibility, visit the ERC Easy website at https://www.erceasy.com or contact the company via phone or email.
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For more information about ERC Easy, contact the company here:
ERC Easy
Stephen Accardi
702-746-3077
stephen@erceasy.com
1309 Coffeen Avenue
Sheridan, Wyoming 82801
