Name: Are You Eligible for the Employee Retention Tax Credit? - Conway Center LIVE WEBINAR
Date: March 8, 2021
Time: 8:00 AM - 9:00 AM EST
Early in the Covid-19 pandemic, the CARES Act was passed to provide stimulus to struggling businesses. One much-discussed highlight of the CARES Act was the Paycheck Protection Program (PPP). Also included in the CARES Act was a less-discussed program, the Employee Retention Tax Credit (ERTC); the ERTC didn’t get as much attention because businesses could not claim both the PPP and ERTC. Since the PPP was a more lucrative stimulus in most cases, the majority of eligible businesses opted for the PPP.
PPP + Employee Retention Tax Credit (ERTC) now allowed
Fast forward to the recently passed Consolidated Appropriations Act (CAA). While yes, PPP Part 2 was funded, a change in the CAA allowed businesses that previously claimed a PPP to now retroactively claim an ERTC in addition to any PPP forgiveness received. As a result, many businesses are eligible for up to an additional $5,000 refundable credit per employee for 2020. Further, the ERTC was extended and sweetened for 2021 – a refundable credit is also available for up to $14,000 per employee for Q1 and Q2 of 2021.
This welcomed, yet quiet change, presents opportunities for many businesses both retroactively and prospectively. Businesses that have not yet sought PPP forgiveness should first review the ERTC rules – as the same payroll dollars cannot be used for both PPP and the ERTC, thus presenting opportunities for businesses to strategically allocate payroll between the programs in order to maximize the overall value to the business. Businesses that have sought PPP forgiveness, or applied for PPP Part 2 funding may still be eligible for ERTC funding either retroactively or prospectively.
Join us for this live webinar on Monday, March 8th as Phil Hurak and Kevin Dehner from Clark Schaefer Hackett present the most up-to-date information on the Employee Retention Tax Credit.
The webinar will conclude with a Q&A allowing you to get your questions answered. Not able to attend? Register anyway and we'll send you the recording.
MEET THE PRESENTERS:
Phil Hurak leads CSH’s Government Funding Advisory and State and Local Tax practices. He specializes in helping clients across all industries understand the various rules and opportunities available in each taxing jurisdiction. He has extensive experience in assisting companies at the federal, state and local levels identify, apply and comply with both tax and non-tax benefits.
Kevin Dehner leads CSH’s Government Funding Advisory practice. In this role he assists companies in identifying, understanding, and receiving money through a variety of programs provided by governmental bodies. Kevin has a diverse background, including significant expertise in audit, tax and M&A practices. Kevin has served as a business advisor for public, private, domestic and multinational companies from a broad-based industry profile, including consumer products, technology, life sciences and industrial products.