CONGRESS EXTENDS AND EXPANDS EMPLOYEE RETENTION CREDIT (NOW AVAILABLE TO PPP LOAN RECIPIENTS)

The Consolidated Appropriations Act of 2021 (Act), signed into law on December 27, 2020, contains significant enhancements and improvements to the Employee Retention Credit (ERC).  The ERC, which was created by the CARES Act on March 27, 2020, is designed to encourage employers (including tax-exempt entities) to keep employees on their payroll and continue providing health benefits…