3.4.21 Webisode: Understanding the Employee Retention Tax Credit
March 11, 2021
Understanding the Employee Retention Tax Credit
The BNP and experts from Tronconi Segarra & Associates LLP (TSA) discussed the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act’s Employee Retention Tax Credit (ERTC).
The ERTC is a refundable tax credit created by the CARES Act to encourage employers impacted by the pandemic to keep their employees on the payroll. The federal relief legislation enacted in late December extended and enhanced the ERTC, making it available to even more businesses and nonprofits in 2021, while also making retroactive changes to allow employers who received a Paycheck Protection Program (PPP) loan in 2020, to take advantage of the ERTC as well.
BNP’s webisode with TSA will answer your questions about:
- Who is eligible for the ERTC?
- How is the credit calculated and claimed by employers?
- How it interacts with the PPP and other relief programs?
Watch the Presentation Below
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The Partnership organized a ZOOM call for our Manufacturing Council members with Phillips Lytle LLP on Friday, 3/20. Craig Bucki, discussed the legal implications of the New York State Executive Order on COVID-19 workforce reduction.