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.
Tax News & Views
Obtaining the Employee Retention Credit (ERC) was a complicated process, but Eide Bailly was knowledgeable about what needed to be done and when. Their team determined our qualification and helped us complete the application requirements to receive the credit – answering any and all of our questions along the way.
Wherever you are in your journey – Eide Bailly can help.
Employee Retention Credit Leadership
Partner/National Tax Office
Partner/Affordable Care Act Practice Leader