Employee Retention Credit and the American Rescue Plan Act - What Businesses Need to Know
Wednesday, March 24, 2021 (9:00 AM - 10:00 AM) (EDT)
Description
Employee Retention Credit and the American Rescue Plan Act - What Businesses Need to Know
The recently passed American Rescue Plan Act (ARPA) is the third major pandemic bill passed within the last 12 months. This landmark legislation includes a number of tax provisions that may impact many businesses and business owners. In this webinar, Nicholas L. Shires, CPA, partner-in-charge of tax services and Shannon T. Forkin, CPA, CGMA, tax partner at Dannible & McKee, LLP, will provide explanations and guidance on some of the most notable provisions, along with actionable steps and considerations for businesses. These include:
- Economic Injury Disaster Loans (EIDL)
- Paycheck Protection Program
- Paid Sick and Family Leave Credits
The ARPA, together with the Consolidated Appropriations Act (CAA), have also significantly increased the availability and value of the Employee Retention Credit (ERC), a payroll tax credit that can be worth up to $33,000 per employee. The expanded ERC, which is now extended through December 31, 2021, affords the possibility of great benefit to all companies affected by government mandated shutdowns and economic impact—regardless of whether they took or will take advantage of the PPP.
This presentation will also discuss the taxpayer-favorable changes to the ERC, including:
- New eligibility parameters.
- Changes to computations of the credit.
- Determination of wages eligible for the credit and PPP loan forgiveness.
This event is complimentary, but registration is required. You will receive a Zoom link the day before the event.
