I received a PPP loan that was forgiven, can I qualify for ERC?

I received a PPP loan that was forgiven, can I qualify for ERC?

Yes! The ERC program changed in 2021, and the up-to-date guidance states that employers who received one or two PPP loans can also receive the ERC, but they cannot use the same wages to claim both credits. That means if you paid an employee $10,000 in a quarter, and used $4,000 for purposes of your PPP loan forgiveness, then you could use $6,000 as eligible wages to qualify for the ERC.