You may not have heard of the Employee Retention Credit (ERC) until recently. If so, you’re not alone! That’s because businesses who applied for the Paycheck Protection Program (PPP) loan in 2020, weren’t eligible to apply for the ERC. In 2021 though that has all changed. Now businesses who applied for the PPP loan are eligible for the Employee Retention Credit both retrospectively and in 2021, which is HUGE! This news was released in December 2020 with the passing of the Consolidated Appropriations Act.\r\nSo, what does this all mean? What exactly is the Employee Retention Credit and how do you qualify to receive it? In this article we will break everything down for you so you have a good understanding of what it is and how you can get the most of your Employee Retention Credit!\r\n
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