WellCelerators LLC, referral partner of Bottom Line Concepts LLC, one of the leading CPA firms specialized in Employee Retention Tax Credit submissions, has just announced that – according to the CPA firm – small and medium sized businesses with 5 to 500 employees affected by the pandemic may unexpectedly be eligible to receive refunds of tens of thousands of dollars in government tax credits. This could potentially represent up to $26,000 per W-2 employee, even if the business already received a loan from the Paycheck Protection Program.
On March 11, 2021, Congress signed The American Rescue Plan Act into law, which modified Employee Retention Tax Credit to include businesses that had already received PPP loans. The IRS is rewarding business owners who kept employees on payroll and made it through the pandemic. With this unprecedented stimulus, the government wants to incentivize and reward employers for keeping staff on payroll throughout these difficult times shaped by restrictions. The rewards can be huge if the employer is aware of the PPP and ERC interaction and knows how to get both to maximize the benefits, explains Thomas Orths.
According to a recent survey, Thomas Orths reports, many businesses that had already received loans from the Paycheck Protection Program are still unaware of that change regarding the potential eligibility to both, ERTC and PPP loan.
According to CPA firm Bottom Line Concepts businesses can now potentially qualify under the Consolidated Appropriations Act for the Employee Retention Tax Credit even if they already had received a PPP loan.
In contrast to the Paycheck Protection Program ERTC is not a loan, it is a special refund based on the payroll of a business, no repayment is required, and there are no limitations for how businesses must use these funds, explains Thomas Orths, official referral partner of Bottom Line Concepts LLC..
ERTC tax credits can be claimed retroactively if the business meets certain requirements and deadlines. If in any case the CPA firm Bottom Line Concepts cannot get a refund for any reason the employer does not owe any fees to Bottom Line Concepts LLC..
Employers may now apply or get more information at https://businessfundingsuite.com
Bottom Line Concepts LLC specializes in maximizing Employee Retention Tax Credits for employers and has helped over 20,000 clients navigate the complex Employee Retention Tax Credit process and apply for over $3.5 Billion dollars in refunds.
Thomas Orths goes on to say that regrettably many business owners are still unaware of their potential eligibility to a refund, leaving such significant funding unclaimed. As a result many eligible businesses still miss out without even being aware of it. WellCelerators’ mission is to change just that. It only takes a few minutes to complete a form for eligibility check, and the CPA firm Bottom Line Concepts charges neither any fees to calculate the size of a refund nor any upfront fees for applying and filing all documents prior to pay-out of the refund.
A quick free eligibility check can be done here: https://businessfundingsuite.com
About Wellcelerators LLC:
Originally known for the WellCeleration process in consulting and coaching, WellCelerators LLC – as official referral partner of Bottom Line Concepts LLC – is now positioned to have a fully regulated CPA firm make unclaimed funding sources visible to its clients and do all the filing and processing. With this added value proposition the company’s aim is to serve its customers even better.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.