For 2020, eligible employers with a PPP loan can now claim the Employee Retention Credit (ERC), although the same wages cannot be counted for both. The IRS has made clarifications to the CARES Act changes passed late December that expanded eligibility for the ERC in 2020. It now may be easier for employers to both
New PPP Loan Parcel Plus Tax Provisions Packaged In 2021 COVID Relief Bill
Extension and Enhancement of PPP Loans The Consolidated Appropriations Act, 2021, makes available an additional $284 billion in PPP loans. What does the “ACT” mean for you and your business? If you are a first-time borrowers that meets the eligibility criteria, you can apply, because the availability of PPP Loans has been extended. If you
Biden’s Tax Policy Changes Will Impact 2021 Tax Planning
Nothing is yet set in stone, but we want to alert clients to “expect the unexpected” when it comes to potentially significant tax and regulatory policy changes in 2021. The first hint of things to come may be hidden in President Joe Biden’s American Rescue Plan. The $1.9 Trillion COVID-19 relief package represents the Biden administration’s
