Employee Retention Credit

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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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WHAT CLIENTS ARE SAYING

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.

Jeff Jones
ControllerWee Care Pediatrics
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Wherever you are in your journey – Eide Bailly can help.

Our experienced business credits and incentives professionals can help you make the most of available opportunities to increase cash flow.

Employee Retention Credit Leadership

Jim DonovanCPA

Partner/National Tax Office

Jim has 20 years of tax consulting experience primarily focused on tax credits for a variety of industries. He helps clients benefit from federal and state R&D tax incentives, which can include additional deductions and credits for activities many businesses consider a necessity to remain competitive in today's marketplace. He also provides assistance with IRS and state taxing authorities to support R&D credit claims and has written articles on tax incentives.
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Tonya M. RuleCPA

Partner/Affordable Care Act Practice Leader

Tonya helps businesses with the rules surrounding the Affordable Care Act. She assists large employers with the compliance requirements, Forms 1094-C and 1095-C, and she also advises them on very technical rules that many employers and advisors aren't aware of. In addition, she works with small businesses who are planning on expanding their current operations to make sure they are doing everything from measuring their employees correctly to deciding on the best insurance plan for their business. Tonya regularly works with clients on various ACA IRS notices and has been very successful in getting most of these penalties abated.
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