Asian Pacific American Chamber of Commerce: IRS Issues New Guidance on PPP and Employee Retention Credit Eligibility
March 04, 2021
March 04, 2021
TROY, Michigan, March 4 -- The Asian Pacific American Chamber of Commerce issued the following news release:
The IRS issued highly anticipated guidance regarding the employee retention credit (ERC) on March 1. We have previously outlined how the Consolidated Appropriations Act, passed in December, permitted employers receiving a Paycheck Protection Program (PPP) loan to claim the ERC, although the same wages cannot be counted for both PPP loan forgiveness and ERC. It has been unclea . . .
The IRS issued highly anticipated guidance regarding the employee retention credit (ERC) on March 1. We have previously outlined how the Consolidated Appropriations Act, passed in December, permitted employers receiving a Paycheck Protection Program (PPP) loan to claim the ERC, although the same wages cannot be counted for both PPP loan forgiveness and ERC. It has been unclea . . .