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Tag: ERC

Straight Outta Congress: How to Maximize the Employee Retention Credit (ERC) & Paycheck Protection Program (PPP)

By Travis Miskowitz, Manager, CFO Advisory This is a developing story; updates will be published as additional information becomes available. Update: March 3, 2021 As we enter March, we would like to remind our clients and friends that they may be eligible for 2 very beneficial programs: Employee Retention Credit (ERC) and a 1st Draw or 2nd Draw PPP loan. The ERC is a refundable credit which can now be claimed retroactively by PPP borrowers to 2020 if the company meets 2 main eligibility...

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Breaking Down the Employee Retention Credit in the New COVID Relief Bill

By Ilya Brodetskiy, Tax Manager Some significant updates are affecting the Employee Retention Credit, but there are still some important unknowns. Businesses that were ineligible for the ERC because they applied for PPP funding or who had over 100 full-time employees should reevaluate their eligibility based on the expanded program. The Consolidated Appropriations Act of 2021 introduced major changes to the Employee Retention Credit (ERC).  The first change allows businesses that...

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