Employee Retention Credit
There is immense potential in the Employee Retention Credit, even years after the pandemic.
Eligible taxpayers can claim the Employee Retention Credit (ERC) on an original or amended employment tax return by reducing a quarter’s required payroll tax deposits. The credit allows up to $5,000 per employee for 2020 and up to $7,000 per employee per quarter, for the first three calendar quarters of 2021.
While there is significant benefit to the ERC, understanding if you qualify, how to claim the credit, and accounting for the claimed credit is complex. Eide Bailly’s experienced team can help you navigate the process of the ERC and maximize your benefit.
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Employee Retention Credit Leadership
Tonya M. RuleCPA
Partner/Affordable Care Act Practice Leader
Tonya has 20+ years public accounting experience providing tax and consulting services to individuals and businesses. She currently leads the firm’s healthcare reform specialty services and helps businesses with the rules surrounding the Affordable Care Act.