The new laws allows your company to participate in the PPP loan program while also receiving the ERC. However you cannot use the same payroll dollars to justify loan forgiveness and the tax credit. We have attached some literature here for your reading. We highly encourage you to take some time to read and digest this information. If you choose to claim this ERC please make us aware of your decision and we will update our system’s records accordingly. We may have to hold your quarterly taxes for the fourth quarter of 2020 to make this adjustment for your company. We will need to make this adjustment swiftly, if your company decides to opt in to the ERC please notify CPRI as soon as possible so we can streamline this process.
