Question
Lisa owns a small business and has several employees she continued tp pay during 2020. She also received a Paycheck Protection Program (PPP) loan. Which
Lisa owns a small business and has several employees she continued tp pay during 2020. She also received a Paycheck Protection Program (PPP) loan. Which is TRUE about
the Employee Retention Credit?
A. Lisa cannot claim the Employee Retention Credit because she has receives a PPP loan
B. Lisa can claim the Employee Retention Credit as long as she does not apply to have the PPP loan forgiven
C. Lisa may be able to benefit from both the Employee Retention Credit and PPP loan forgiveness
D Lisa cannot use the same wage for the Employee Retention Credit and the PPP loan forgiveness application
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Sound Investing, Chapter 23 - Internal Control
Authors: Kate Mooney
1st Edition
0071719458, 9780071719452
