Frequently Asked Questions
Who is eligible for Employee Retention Tax Credits?
Can businesses claim ERTC for employees who are furloughed or working reduced hours?
Can businesses claim both PPP loans and Employee Retention Tax Credits?
Businesses that were impacted by COVID-19 and either fully or partially suspended operations or had a significant decline in gross receipts are eligible for ERTCs. In addition, tax-exempt organizations that were impacted by the pandemic and experienced a decline in gross receipts are also eligible.
Can businesses claim both PPP loans and Employee Retention Tax Credits?
Can businesses claim ERTC for employees who are furloughed or working reduced hours?
Can businesses claim both PPP loans and Employee Retention Tax Credits?
Yes, businesses can claim both PPP loans and ERTCs. However, they cannot use the same wages to calculate both credits. In other words, the same wages cannot be counted towards both PPP forgiveness and ERTC.
Can businesses claim ERTC for employees who are furloughed or working reduced hours?
Can businesses claim ERTC for employees who are furloughed or working reduced hours?
Can businesses claim ERTC for employees who are furloughed or working reduced hours?
Yes, businesses can claim ERTC for employees who are furloughed or working reduced hours, but the credit amount is limited to the amount of wages paid during the period of furlough or reduced hours.
