2 days ago
Thanks to biz2credit for helping me to...
Thanks to biz2credit for helping me to be easy and without much roll we were able to deal in a short time thank you very much
5 days ago
Thank you Tommy for your help in the...
Thank you Tommy for your help in the process of getting my loan i will continue to do business in the future because when i lost hope Biz2credit help me out and i will never forget that thank you!!!
6 days ago
Vaishali Patel and Sam Parker were awesome and prompt in communications, they were perfect keeping in loop of every stage of funding , I highly recommend biz2credit for short term funding
Employee Retention Tax Credit (ERTC) Explained
The Employee Retention Tax Credit (ERTC) is an IRS rebate for businesses that paid their quarterly payroll taxes for employees’ salaries who were kept on staff during the COVID-19 pandemic despite government mandates requiring businesses to close or a significant loss of revenue due to pandemic-related interruptions in business.
Which Businesses are Eligible for an ERTC?
Small businesses that file Quarterly Payroll taxes (IRS Form 941) are eligible if those businesses meet the following conditions:
- They operated the business in 2020 at the onset of the pandemic.
- Had less than 100 employees if filing for a 2020 credit or less than 500 employees if filing for a 2021 credit.
- Experienced the full or partial suspension of the operation of their trade or business because of government orders due to COVID-19.
- Experienced a significant decline in gross receipts in any quarter, as defined by ERTC rules.
Related Blog Article About ERTC
How Your Small Business Can Use ERTC Laon
August 9, 2022Read More
The Internal Revenue Service has been slow in processing employer tax credits and tax refunds that businesses were supposed to receive.
ERTC Loans are made by Itria Ventures LLC or Cross River Bank, Member FDIC. California residents: Itria Ventures LLC is licensed by the Department of Financial Protection and Innovation. Loans are made or arranged pursuant to California Financing Law License # 60DBO-35839. Maximum of 12 months interest only. If IRS payment is not received at that time, loan rolls over into an amortizing term loan for up to 24 months from that date. This loan product is subject to certain terms, conditions and limitations. Please review product details included herein carefully with your tax advisor. If the Loan is prepaid within 210 calendar days of funding a Prepayment Fee equal to 2% of the unpaid principal will be assessed.