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…