If you are a business that started after February 15, 2020, you, unfortunately, discovered that there was not much government support available to you. The Paycheck Protection Program (PPP), the Employee Retention Tax Credit (ERC) and other help were only available to businesses that started prior to that date, reason being that the government figured that you knew what you were getting into if you started after that date, therefore, you did not need any relief. On March 11, 2021, President Biden signed the American Rescue Plan (ARP) Act of 2021, which extended support to existing businesses and also included…
Posts tagged as “Employee Retention Tax Credit”
If your business was impacted by COVID-19, there is a significant amount of unclaimed money quite possibly waiting for you. The amount is up to $26,000 PER EMPLOYEE. But why have you not heard of this? Back when the CARES Act was signed by the President on March 27, 2020, COVID-19 was expected to be short-lived (remember the “15 Days to Slow the Spread” plan?) thus, the benefits were to provide short-term relief. There were a few different major benefits in that Act, but a business was only able to select one. This included the Paycheck Protection Program (PPP), the…