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

The latest round of federal COVID-19 relief was signed into law on Dec. 27, 2020. The Consolidated Appropriations Act, 2021 contains important provisions that change the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC). These changes will result in substantial savings for most carriers, including deductibility of ordinary business expenses paid with PPP funds and expanded eligibility and larger credits for the ERC.

Join Ben Lyon, partner, and Nathan Potter, director, with Katz, Sapper & Miller’s Transportation Services Group for a webinar co-hosted by the Indiana 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