IMTA (Iowa): Changes To PPP and the Employee Retention Credit

The latest round of federal COVID-19 relief was signed into law on December 27, 2020. The new law contains important provisions that change the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC). The changes will result in substantial tax savings for most carriers, including deductibility of ordinary business expenses paid with PPP funds and expanded eligibility and larger credits for the ERC. This webinar will highlight the provisions of the Consolidated Appropriations Act that could have the greatest impact on your business.

Join Nathan Potter, director, with Katz, Sapper & Miller’s Transportation Services Group for a webinar co-hosted by the Iowa Motor Truck Association that will highlight the provisions of the Consolidated Appropriations Act, 2021 that could have the greatest impact on the trucking industry.

Topics to be covered include:

• Deductibility of PPP Expenses
• Simplified PPP Application
• Overview of Second PPP Draw Loans
• Expansion of First PPP Draw Loans
• Overview of ERC Changes
• Retroactive ERC Credit Rules
• 2021 ERC Credit Rules