Paychex Expands Paycheck Protection Program Solutions with Support for Employee Retention Credits

Paychex Flex HR software addresses new legislation that allows for the use of the employee retention credit even if a business already received a PPP loan

According to a recent Paychex survey, only 39 percent of employers with fewer than 500 employees are aware of the employee retention tax credit. However, under the provisions of the Consolidated Appropriations Act, 2021, the Employee Retention Tax Credit can now be used in combination with a Paycheck Protection Program (PPP) loan. This important change provides another source of financial relief for businesses that continue to struggle with the financial impacts of the COVID-19 pandemic. To help maximize the benefits of available stimulus options, Paychex, Inc., the HR software and services company that provides the power of simplicity for increasingly complex workplaces, has expanded Paycheck Protection Program support in Paychex Flex.

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