The Consolidated Appropriations Act, 2021, expanded the Employee Retention Credit which was implemented under the CARES Act.
Important Update: Businesses that participated in the Paycheck Protection Program (PPP) are now permitted to use the Employee Retention Credit, but only for wages not covered under the PPP – a business cannot “double-dip.”
Lucas Rihely, CPA, Partner, shared a quick video update to discuss key provisions of the expanded Employee Retention Credit.
View the video here.
The information provided on this video does not, and is not intended to, constitute tax and/or accounting advice. All information, content, and materials provided during the video are for general informational purposes only and may not constitute the most up-to-date tax and/or accounting information. Please contact your CPA and/or adviser to obtain advice with respect to any particular tax and/or accounting matter.