Michels & Hanley CPAs LLP

 Employee Retention Tax Credit (ERTC) Coordination with Paycheck Protection ProgramThe ERC was initially created when the CARES Act was signed into law March 27, 2020.  However, pursuant to the original CARES Act legislation, employers that received Paycheck Protection Program (PPP) loans were not eligible to claim ERC benefits. Thus, many employers

 12.29.20 | Client AlertPresident Trump has signed the $900 billion Consolidated Appropriations Act, 2021 into law, bringing expanded COVID-19 relief to businesses, nonprofits and individual taxpayers.As we previously wrote about, included in the legislation is the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (“the Act”), which includes

Michels & Hanley CPAs, LLP COVID-19 –Paycheck Protection Program: Round 2 for Small Businesses 12.18.20 | Client Alert  Earlier this month, a group of lawmakers revealed the framework for a $908 billion COVID economic relief plan (Senate “Gang of 8” Proposal), which designates $300 billion for support of small businesses,