The Latest ERC Credit Updates You Must Know
The Covid-19 outbreak has greatly affected businesses across the country. Despite the government's ongoing efforts to provide relief programs, many businesses fail to take advantage of these opportunities. Among multiple relief programs, ERC Credit is the major one and has been helping businesses of all sizes stabilize their operations again. Therefore, to keep you updated on ERC benefits, we will introduce you to the latest updates on the ERC program. Let's get started now! Expansion of Eligibility The ERC has undergone significant changes to expand eligibility criteria, allowing more businesses to benefit from the credit. Previously, businesses that received Paycheck Protection Program (PPP) loans were ineligible for ERC credit. However, recent legislation has removed this restriction, enabling businesses to claim the ERC benefits and PPP loan forgiveness, providing much-needed relief to struggling employers. Increased Credit Amounts The ERC has seen a boost in the maximum ...