Retention Credit before PPP loan? My client was forced to close his office due to government order. He had an employee who worked from home and continued getting regular salary the entire 2nd quarter 2020. He received the PPP loan on May 4. I know that he cannot claim the employee retention credit for wages paid after he received the PPP loan. But can my client claim the employee retention credit for wages paid to employee from March 13 through May 3?
What about for those business who have applied for but have not yet been approved for the PPP loan? Can they claim the employee retention credit? |