The employee retention credit (ERC) was one of the CARES act’s provisions designed to alleviate the financial suffering employers have experienced due to COVID. It allows employers to claim a tax credit based on the wages paid to employees. With recent legislation, there have been updates to the act. It’s
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Businesses in the arts have earned their stimulus with a solid case for why they are the United States single most affected industry. With enormous operational costs, no ability to ‘pivot’ to a different model, and a structure that requires long-term planning, the pandemic has brought everything besides their bills
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The Employee Retention Credit, a provision of the CARES Act, has been extended under the Consolidated Appropriations Act of 2021. It is now available through June 30, 2021, and is available for all employers who have retained their employees throughout the COVID-19 pandemic. The new extension will help businesses deal
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Congressional Democrats and Republicans agreed on a new, $900 billion pandemic relief package after months of negotiations. This is great news for millions of Americans now unemployed due to the coronavirus pandemic. In the package are provisions that will provide enhanced unemployment benefits to workers who are jobless in these
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December 21, 2020, was a historic day as a new stimulus relief bill was passed by Congress and signed into law by President Trump on December 27, 2020. People who are eligible have already stated receiving their second stimulus check from the IRS. The stimulus payment cutoff has been set
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After months of stalling, weeks of fierce negotiations, and too many false starts to count, President Trump has signed a new bill to help businesses and individuals across the country find relief from the economic devastation created by the COVID-19 pandemic. The Consolidated Appropriations Act includes funding earmarked for small
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It should be noted that U.S. lenders have issued more than 5 million forgivable loans through the federal government’s coronavirus aid initiative for small businesses, the Paycheck Protection Program (PPP). The Small Business Administration (SBA) in August, started to accept applications to have the loans forgiven, and it has begun
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For all small business owners who have applied for an EIDL advance grant, you will be eligible for up to $10,000. The SBA emergency grant is one of the temporary programs that is designed to offer financial relief as part of the CARES Act. As of June 15, 2020, the
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