As a result of new legislation, the employee retention credit (ERC) was expanded and extended in 2021. There are two opportunities that employers need to consider: (i) retroactive relief for the 2020 ERC for all businesses that obtained a PPP loan and (ii) current ERCs for the first two quarters in 2021 (i.e., eligible employers can claim a refundable tax credit equal to 70% of the qualified wages they pay to employees from January 1, 2021 through June 30, 2021).
This webinar will explore both opportunities and explain the applicable rules and IRS guidance, including strategic guidance to maximize both PPP loan forgiveness and the ERC. Listen in as Withum’s experts discuss the provisions of the 2020 and 2021 ERCs in detail and walks through practical and strategic considerations for various employer scenarios.
- Overview of requirements and limitations of the ERC for both 2020 and 2021
- Appreciate the changes in the law as it applied in 2020 and as it will apply for the first two calendar quarters of 2021
- Understand the retroactive provisions pertaining to employers who received PPP loans
- Maximize the ERC in light of PPP loan forgiveness for PPP1 and PPP2
To learn more about Employee Retention Credit and retroactive refund opportunities, reach out to a member of our team.