What to Know About the Expanded Employee Retention Credit

Description

The Employee Retention Credit (ERC) was originally passed as part of the CARES Act to help businesses affected negatively by COVID-19. The ERC was recently expanded as part of the year-end COVID relief legislation and now retroactively allows employers that took Paycheck Protection Plan (PPP) loans to also claim the ERC. The legislation also extended availability of the ERC to June 30, 2021, and significantly raised the credit rates. The ERC is a refundable tax credit of up to $5,000 per employee in 2020 and up to $14,000 per employee in 2021. In this webinar, we will cover important topics relating to the Employee Retention Credit and provide examples of how it could potentially benefit your organization.

Learning Objectives:

• Identify what businesses do and do not qualify for the ERC
  
• Outline how the ERC is calculated
  
• Discuss how to claim the credit

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Presenters:
Joe Stoddard, CPA, Partner | Eide Bailly
Joe has more than 20 years of tax consulting experience providing services to a variety of industries. He helps clients benefit from federal tax credits and incentives and regularly works with the IRS to support tax incentives claims. He is a sought-after tax incentives resource, having written numerous articles and facilitated many presentations on tax incentives topics.

Jim Donovan, CPA, Partner | Eide Bailly
Jim has 20 years of tax consulting experience, including R&D tax incentives and other federal credits and incentives. He works with a variety of industries, including chemical, food, plastics, medical device and equipment manufacturing, technology, software, engineering, and life sciences. He helps clients benefit from federal tax incentives, and regularly provides IRS assistance to support tax incentives claims.

CPE Information
CPE Credit: 1
Field of Study: Taxes
Level of Knowledge: Update
Delivery Method: Group-Internet Based