Consolidated Appropriations Act of 2021:
In response to the rapid effects of the pandemic on our economy, the CAA was revamped in 2021. This was officially approved and signed by President Biden on March 11, extending deadlines and eligibility requirements for the Employee Retention Tax Credit and other incentives.
Another exciting update is the fact that businesses can now claim the ERC alongside PPP and other paycheck protection programs. Even if you already claimed PPP and got your loan forgiven, you still qualify for this credit!
In 2021, the new COVID relief bill expanded the guidelines to help more businesses qualify. Even if you have losses or do not have tax liability, you can still benefit.
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