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A Guide to the 2021 Paycheck Protection Program and Employee Retention Credit

Our COVID-19 Solutions team has put together a comprehensive guide to the 2021 Paycheck Protection Program and Employee Retention Credit, as amended by the Consolidated Appropriations Act and American Rescue Plan. This guide is a one-stop shop for all things PPP and ERC.

The American Rescue Plan: Breaking Down the Tax Changes

The American Rescue Plan Act of 2021 (ARP or Rescue Plan) was signed into law on March 11. The $1.9 trillion relief package contains help for many small businesses across the country, but with the relief comes several tax changes.

New Higher Education Emergency Relief Fund Guidance

The Department of Education (ED) has released new guidance for all Higher Education Emergency Relief Fund (HEERF) allocations passed by Congress to date. Read this article for an overview of the new guidance.

A simplified approach to the Employee Retention Tax Credit (ERTC)

Having trouble understanding the Employee Retention Tax Credit? You're not alone. Luckily, Kaydee Ruppert, Dean Dorton Accounting & Financial Outsourcing Manager, put together a short guide to help you navigate and maximize the opportunity presented by the ETRC.

Kentucky General Assembly makes expenses paid with Paycheck Protection Program (PPP) loans deductible

On Friday, March 12, 2021, the Kentucky General Assembly passed House Bill 278, providing deductibility for Kentucky tax purposes of expenses paid with PPP loans. The same bill provides for the exclusion from taxable income and deductibility of expenses paid with Economic Injury Disaster Loan advances.

Shuttered Venue Operator Grants are enhanced by the American Rescue Plan

The third round of significant COVID-19 stimulus funding was signed into law on March 11, 2021. The American Rescue Plan provides more money for Shuttered Venue Operator Grants and relief for venue operators from the looming deadline for Paycheck Protection Program loans.

The American Rescue Plan launches Restaurant Revitalization Grants

The American Rescue Plan Act addresses a plethora of issues and industries, from vaccinations and testing to schools and airlines. It also provides much needed relief for the beleaguered restaurant industry through Restaurant Revitalization Grants.

A last-minute expansion of the Paycheck Protection Program (PPP) via the American Rescue Plan

The American Rescue Plan expands eligibility for Paycheck Protection Program loans to several types of organizations, including labor unions and agricultural organizations, and adds $7.5 billion in funding for those entities. Qualifying organizations must act quickly as the application deadline is March 31, 2021.

New Rules for Sole Proprietors, and Time is Running Out!

Act Immediately to Get a Paycheck Protection Program Loan.

The deadline for Paycheck Protection Program (PPP) loans is March 31, 2021, and many lenders will quit accepting applications as early as next week to process what is in their pipeline. For these reasons, it is imperative that any business or organization that qualifies for a PPP loan, first or second draw, apply immediately.

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