Business owners who received the Paycheck Protection Program (PPP) loans under the CARES Act were ineligible for the employee retention credit (ERC), one of the COVID-19 relief provisions included in the original CARES Act. Both are wage-based, and lawmakers...
Business owners who received the Paycheck Protection Program (PPP) loans under the CARES Act were ineligible for the employee retention credit (ERC), one of the COVID-19 relief provisions included in the original CARES Act. Both are wage-based, and lawmakers limited businesses to one or the other. The second-largest stimulus legislation package approved by Congress in late December makes it possible for employers to benefit from both programs—with some limitations. The new law also enhances several other aspects of the ERC.
