Now Available On-Demand: The new and improved Employee Retention Credit (ERC) is a significant opportunity for employers – and certainly worth a second look. Many employers have ignored the credit, originally released as part of the CARES Act because they took Paycheck Protection Program (PPP) funds.
The Consolidated Appropriations Act (passed in December) created significant changes to the credit that now provide benefits for tax years 2020 retroactively and 2021 in the first two quarters – allowing PPP borrowers to qualify for the ERC as long as there is no double-counting of the same wages. Refunds may be available up to $5,000 per employee for 2020, and potentially $14,000 per employee for 2021.
On Thursday, February 11th, 2021, Lurie’s Economic Relief Team provided a key overview of the ERC, PPP, and how to use both programs to maximize your eligibility.
What You’ll Learn:
- What is the ERC, and how recent changes provide a major benefit to employers
- How to qualify for the ERC and calculate your refund potential
- How to maximize your eligibility using both PPP and ERC
- How to claim your credit
Limitation of Liability
After the presentation, official guidance and rules may be changed, improved, or updated without notice. Lurie, LLP is not responsible for any errors or omissions in the content of this presentation, or for damages arising from the use or performance of this presentation, under any circumstances. Contact your Lurie advisor before acting on any commentary provided in the presentation.