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The Employee Retention Credit ( ERC ), sometimes called the Employee Retention Tax Credit ( ERTC ), [1] is a U.S. federal tax credit that was available to certain employers, most recently during the COVID-19 pandemic. It was originally designed to help employers who were not eligible for a Paycheck Protection Program loan, but it was later ...
The Paycheck Protection Program ( PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self-employed workers, sole proprietors, certain nonprofit organizations ...
There would be about $290 billion to support small businesses and employee retention, with modifications to the Paycheck Protection Program. This would expand employee retention credit , provide credits for employer expenses, extend and expand paid leave (such as paid sick days , family and medical leave ), and provide a 90% income credit for ...
MINNESOTA — Thousands of Minnesota businesses have received Paycheck Protection Program, or PPP, loans to help pay their employees during the coronavirus pandemic.
New employers aren’t allowed to cut workers’ hours in order to get around these new protections, and they can’t fire the covered employees without just cause during the 60-day period.
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