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Taxpayers with Existing PPP Loans May Need to Take Immediate Action

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Taxpayers with Existing PPP Loans May Need to Take Immediate Action

The President signed the Consolidated Appropriations Act (CAA) into law on Dec. 27, 2020. One important element of this legislation is that it allows employers that took out a Paycheck Protection Program (PPP) loan to also claim the Employee Retention Credit (ERC). In addition, the  type of expenses that qualify for taxpayer forgiveness has been expanded.

To learn more about the impact of the CAA, please read the full alert.

DHG Tax will be hosting a webinar on the CAA on January 12, 2021 / 1:00 PM - 2:00 PM EST.

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The content in this article is for informational purposes only and does not constitute investment advice or an offer to buy or sell any security. The information in this article is believed to be accurate as of the time it is distributed and may become inaccurate or outdated with the passage of time. You should contact your financial advisor or CPA professional before making any tax or investment-related decision. Past performance does not guarantee future results. All investments may lose money.