The nuances of the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC) can be a challenge to navigate. Fred Landy, Senior Consultant at KatzAbosch, walks us through the “Consolidated Appropriations Act, 2021”, signed into law on December 27, 2020, which contained an important change to the CARES Act relating to the ERC.
The CARES Act originally precluded recipients of PPP loans from taking the ERC. However, the new law now allows PPP borrowers to take advantage of the ERC, provided the wages used to claim the credit are not also used as part of PPP loan forgiveness.
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Speaker: Fred Landy, Senior Consultant at KatzAbosch
Fred Landy is a Senior Consultant with KatzAbosch. He has over 20 years experience in executive management of mid-size companies and has worked in various industries including distribution, technology and government contracting. Fred provides a full range of accounting and tax services for clients, including but not limited to: