You could be eligible for a significant refund. Prior to the Cares Act Updates on 12/27/20, you could only claim the PPP or the Employee Retention Credit. Not only can you now claim both for 2020, but it now extends to Q1 & Q2 of 2021. CALL OR CONTACT US TODAY. WE CAN HELP.
The American Rescue Plan Act (ARPA), which is the latest bill to address the ongoing economic impacts of COVID-19, has been signed into law. Most aspects of the law do not directly affect the HR function, but those that do—optional extension of sick and family leave and establishment of COBRA subsidies—are outlined here.
Overshadowed by the PPP loan program, the lesser-known and used Employee Retention Tax Credit was offered through the CARES act in 2020. Learn here what has changed earlier in 2020 and about your eligibility.
The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll.