What is the Employee Retention Tax Credit?
The Employee Retention Tax Credit is designed to reimburse businesses with lost economics due to the impact of COVID on businesses in both 2020 and 2021.
With the Employee Retention Tax Credit (ERTC), you can recover cash for your business. This tax relief is worth up to $5,000 per employee for 2020 and up to $7,000 per employee per quarter for 2021.
Benefits of ERTC
Just a few benefits to claiming the ERTC for employers are: 1) ERTC is a fully refundable credit, 2) even if you received PPP you are eligible to also claim ERTC, and 3) ERTC can provide significant economic relief to reinvest in your business.
What qualifies my business?
Depending on your industry, you may qualify for the Employee Retention Tax Credit (ERTC) if you meet one or more of the following criteria:
Did you have a significant decline in revenue since 2019?
Were you fully or partially shut down by a government order?
Did you start something new after February 15, 2020?
Frequently Asked Questions
What if I took advantage of PPP?
PPP loan recipients are eligible to claim the ERTC; however, there are significant coordination requirements if you participated in both Programs. Arvo can help.
How much tax credit am I eligible for?
Arvo can assess the opportunity with the following items:
• Employee wages for Q1 & Q2 2020
• Q2 2020 Form 941
• PPP Loan Forgiveness Application (Form 3508)
What deliverables will I receive if I use Arvo?
• Amended Form 941 to file with the IRS
• Credit Computation
• Audit-Ready Tax Opinion to protect against potential penalties.
What will this cost me?
There is no upfront cost – fee is based on a percentage
of your credit. No credit, no fee.
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What is the Employee Retention Tax Credit?
The Employee Retention Tax Credit is designed to reimburse businesses with lost economics due to the impact of COVID on businesses in both 2020 and 2021.
With the Employee Retention Tax Credit (ERTC), you can recover cash for your business. This tax relief is worth up to $5,000 per employee for 2020 and up to $7,000 per employee per quarter for 2021.
Benefits of ERTC
Just a few benefits to claiming the ERTC for employers are: 1) ERTC is a fully refundable credit, 2) even if you received PPP you are eligible to also claim ERTC, and 3) ERTC can provide significant economic relief to reinvest in your business.
What qualifies my business?
Depending on your industry, you may qualify for the Employee Retention Tax Credit (ERTC) if you meet one or more of the following criteria:
Did you have a significant decline in revenue since 2019?
Were you fully or partially shut down by a government order?
Did you start something new after February 15, 2020?
Frequently Asked Questions
What if I took advantage of PPP?
PPP loan recipients are eligible to claim the ERTC; however, there are significant coordination requirements if you participated in both Programs. Arvo can help.
How much tax credit am I eligible for?
Arvo can assess the opportunity with the following items:
• Employee wages for Q1 & Q2 2020
• Q2 2020 Form 941
• PPP Loan Forgiveness Application (Form 3508)
What deliverables will I receive if I use Arvo?
• Amended Form 941 to file with the IRS
• Credit Computation
• Audit-Ready Tax Opinion to protect against potential penalties.
What will this cost me?
There is no upfront cost – fee is based on a percentage
of your credit. No credit, no fee.