January 18, 2021: Taxpayers that received a PPP loan may now be retroactively eligible for the 2020 Employee Retention Credit (ERC) or prospectively eligible for the 2021 ERC if their business operations were fully or partially shut down due to a COVID-19 governmental order OR if their gross receipts experienced significant decline for any quarter in 2020 compared to the same quarter in 2019. Learn more about the ERC in our blog here.
If you have questions on whether your business qualifies please contact your trusted BerganKDV advisor or reach out to our team here bergankdv.com/contact.