21 May Virtual Session To Discuss COVID-19 Tax Credits for Impacted Businesses
Topeka, KAN. – The Kansas Chamber and BKD CPAS and Advisors will host a virtual information session on Tuesday, June 22nd to help businesses financially impacted by the COVID-19 pandemic learn how a federal tax credit program could help them recover.
Created by the CARES Act, the Employee Retention Credit (ERC) is a refundable payroll tax credit for employers whose operations were fully or partially suspended or who experienced a significant decline in gross receipts because of the COVID-19 pandemic.
“During the last year, the Kansas business community adapted to overcome government restrictions, forced closures, and disrupted supply chains to provide the goods and services our communities and state needed. Now, many are struggling to keep their operations going. These credits could provide the crucial assistance businesses need,” said Chamber President and CEO Alan Cobb.
BKD’s Steve Webb and Michelle Smith will cover the extension and expansion of the ERC, compare its differences between 2020 and 2021, and review the criteria required to qualify for the credit.
According to Webb, Partner and BKD Tax Director, “Since it’s rollout, the ERC has been enhanced, expanded, and extended allowing more employers, even those who received PPP payments, to be eligible for the ERC, thus, generating thousands of dollars in refundable tax credits. A number of companies have been surprised to learn they are eligible and even more surprised to see the significant impact the credit has on their companies”.
The virtual information session on Tuesday, June 22nd will be from 11:00 am to Noon CT. It is free and open to all businesses. Those interested in registering for the session can learn more at www.KansasChamber.org/ERC
ABOUT THE PRESENTERS:
Michelle Smith, CPA | Accounting Outsource Manager, BKD CPAs & Advisors
Michelle is a member of BKD’s accounting outsourcing services (AOS) team and is the AOS manager for the Wichita office.
During the COVID-19 pandemic, she assisted Kansas companies in taking advantage of the Employee Retention Credit, helped clients calculate their PPP loan forgiveness and answered questions on the Families First Coronavirus Response Act
Steve Webb, CPA | Partner, BKD CPAs & Advisors
Steve is a member of BKD National Commercial Services and Construction & Real Estate Groups and serves as tax director for the Wichita office.
He works with Kansas companies to help them understand how various provisions of the CARES Act including PPP loans, ERC, and the Families First Coronavirus Response Act could impact their businesses.
For more information, contact:
Posted June 10, 2021