As a result of new legislation, the employee retention credit (ERC) was expanded and extended in 2021. There are two opportunities that employers need to consider: (i) retroactive relief for the 2020 ERC for all businesses that obtained a PPP loan and (ii) current ERCs for the first two quarters in 2021, i.e., eligible employers can claim a refundable tax credit equal to 70% of the qualified wages they pay to employees from January 1, 2021, through June 30, 2021. This session will explore both opportunities and explain the applicable rules and IRS guidance, including strategic guidance to maximize both PPP loan forgiveness and the ERC. Join us for this session in which Withum tax policy expert Daniel Mayo will go over the provisions of the 2020 and 2021 ERCs in detail and walk through practical and strategic considerations for various employer scenarios.  

This session includes coverage of the latest guidance from the IRS as well as answers to the questions we’ve received on ERC since our earlier session in February.

Learning Objectives: 

• Recognize all the requirements, limitations, and other nuts and bolts of the ERC for both 2020 and 2021


• Identify the changes in the law as it applied in 2020 and as it will apply for the first two calendar quarters of 2021


• Determine the retroactive provisions pertaining to employers who received PPP loans


• Determine how to maximize the ERC in light of PPP loan forgiveness for PPP1 and PPP2


• Compile a client document request list to support the ERC eligibility determination/calculation

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222