Discover the top 4 ERTC companies in 2023 at Recession.org. Find expert guidance and maximize your Employee Retention Tax Credit benefits for ultimate financial stability.
If you own a business affected by COVID-19 in 2020 – 2021, you need to know about the Employee Retention Credit (ERTC) and the top companies that can help you take advantage of this tax credit the government is offering.
What is the ERTC?
Sometimes referred to as the Employee Retention Tax Credit (ERTC), the ERC is a stimulus program designed to help small and large businesses that were able to retain their employees during the COVID-19 pandemic.
5 key points to know about the ERC:
- You can receive a tax credit of up to $26,000 per employee
- The ERC is available for 2020 and the first three quarters of 2021
- You qualify with decreased revenue or COVID event
- No limit on funding available by the U.S. government
- The ERC is a refundable tax credit, not a tax deduction
How do you claim the ERC?
The first step in qualifying for the ERC is to determine your eligibility. To qualify, your business must have been negatively impacted in either of the following ways:
- A government authority required a partial or complete shutdown of your business in 2020 or 2021. This includes your business being limited by commerce, inability to travel, or restriction of group meetings.
- Your gross receipts were reduced by a specified percentage in 2020 and/or 2021 compared to 2019 pre-COVID amounts. Your business can be eligible for one quarter and not another.
You can apply for the ERC even if you already received a Paycheck Protection Loan (PPP), though you can’t apply the same wages for the ERC as you did for the PPP loan.
Who are the best ERTC companies?
In our opinion, there are four companies that we believe are the most qualified to help you understand the ERC and claim what you’re entitled to. Here’s a brief look at each.
One of the larger and most prominent ERC companies, linqqs has helped over 28,000 businesses recover over $5 billion in credits. Their process for helping you receive your ERC credit is very well-explained on their website:
You send linqqs the required documents, and they’ll process an analysis at no charge. It will usually take 2-3 weeks to learn if you qualify for the ERC. If you want to move forward, you select how you’ll pay linqqs’ fee, and they will then file your claim. Once filed, refunds are released based on the IRS’ backlog, which it currently states is a 20-week minimum.
Compared to many other ERC companies, linqqs works with small companies and accepts fewer than five W-2s. linqqs also promises “lightning-fast results” and “faster funding,” which can be confusing considering that once your claim is filed, there is nothing linqqs can do to speed up the process more than any other ERC company.
Pros & Cons
- Helps both larger and very small companies (fewer than five W-2s)
- Has experience helping many businesses (28,000+)
- Flexibility on payouts
- Flexible on fees
- Most likely to work with your special situation
- The website can be confusing concerning the turnaround time for you to receive your check from the IRS
- linqqs takes 2-3 weeks to process your documents before letting you know if you qualify
ERC Express USA
ERC Express USA is unique in that they are a “CPA firm” that only specializes in maximizing the ERC for small business owners. They don’t prepare income taxes, compile financial statements, or provide attestation services of any kind.
ERC Express USA makes it easy to claim the ERC for your company. You begin by answering a 10-question “application/questionnaire” that is completed online. Then, if you qualify for the ERC, you upload your 941 returns, PPP loan documents (if applicable), and raw payroll data on their securer portal.
Upon receipt, they’ll calculate the credit you can receive from the IRC and help you prepare and file the 941-X amended payroll returns. You then wait for the IRS to process your credit and mail you a check.
Like all ERC companies, ERC Express USA charges a fee for their services, which is not disclosed online. In addition, no telephone number is listed on the website, though they advertise that they have five offices in the U.S.
Pros and Cons
- Employs CPAs that specialize in the ERC
- The simple and fast process to claim your ERC
- One of the original companies
- No phone number on the website
- Vague jargon on its website concerning “4-Weeks Express ERTC Full Credit Refund opt-in for all qualified businesses”
Bottom Line Concepts
Bottom Line Concepts also has an impressive track record of helping businesses claim the ERC. It has helped over 30,000 businesses enroll, and more than 606,000 employees qualify so clients could recover over $5 billion in credits.
Bottom Line Concepts’ process is unique in that it starts with a phone call between you and one of their consultants. On its website, you schedule a 15-minute, no-cost, no-obligation phone call to see if you qualify for the ERC. If you do, you then provide them with the documentation they need to calculate the amount of your credit.
Like the other ERC companies we reviewed, Bottom Line Concepts doesn’t disclose their fees on their website, but they provide a phone number you can call to have questions answered before you commit to working with them.
Bottom Line Concepts’ website provides a lot of information if you’re not very familiar with the ERC, and their blog is also very educational and informative.
Pros and Cons
- Robust and informative website
- You can talk with a live person to start the process, and while your claim is being prepared
- No fees are disclosed on the website
If you prefer working with a larger, more well-known brand, you might want to consider Paychex to help you with your ERC claim. Paychex has been in business for over 45 years and pays about 8% of private-sector U.S. workers. They are also experienced in handling financial transactions, transferring $690 billion annually in client funds.
If Paychex has a drawback, it would be that they don’t specialize in the ERC, unlike the other ERC companies we reviewed. This is evidenced by the minimal amount of information Paychex provides on its website about the ERC compared to its specialties in handling a company’s HR, payroll, and employee benefits.
Paychex might be a better choice if your company is larger since many small businesses handle their own payroll. Still, Paychex manages payroll for over 730,000 companies in the U.S., which is impressive.
Pros & Cons
- A large, well-known company
- Can provide multiple services to customers
- Doesn’t specialize in the ERC
- Little information on its website about ERC
Why hasn’t your CPA told you about the ERC?
If your CPA or accountant hasn’t checked into whether you qualify for the ERC or are unfamiliar with it, don’t feel alone. Many CPAs refer their clients to companies that specialize in the ERC, like those mentioned above. Filing for the ERC can be very complex, so working with an ERC specialist can be an excellent choice and investment since you may have tens of thousands of dollars in the form of a tax credit from the IRS coming.
Consultations are free with each of these companies, and their fees are typically a percentage of what you receive from the IRS. If you’re unsure whether you qualify for this tax credit, contact one or more of the companies we’ve reviewed.