PPP and ERC Tax Credits: How to Tell If Your Business Is Eligible
Businesses are still struggling as the COVID-19 pandemic continues to cause shortages, closures, and uncertainties. The federal government has passed several rounds of legislation over the last year and a half to help support Americans and business owners through these challenging times.
Lawmakers passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in March 2020, near the start of the pandemic, to create several relief programs. One was the Payment Protection Program (PPP), which aimed to help businesses keep their employees on the payroll during the pandemic or hire back furloughed workers.
Laws passed after the initial act have since expanded the PPP and other relief programs, including the Employee Retention Credit (ERC), which was also created under the CARES Act. This credit is another relief measure that targets employers who may be having trouble paying their full tax bill. U.S. businesses would be wise to explore whether they qualify for relief under these programs.
This guide will cover what PPP loans entail, an overview of the ERC, and other facts you need to know when you’re looking for business relief during the pandemic. Learn more by going to https://erctoday.com/ppp-and-erc-elig...