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The Employee Retention Credits (ERC) allow a maximum tax credit of up to $5,000 for each qualified employee for qualified organizations.

The Employee Retention Credits (ERC) allow a maximum tax credit of up to $5,000 for each qualified employee for qualified organizations. Recently, the IRS outlined additional guidance in using these credits and the guidelines for who qualifies.

Guidance included:

  • Additional clarification on partially suspended operations.
  • Further clarification on qualified wages.
  • How to handle healthcare costs.

Eide Bailly broke down what this new guidance means as you explore the option of the Employee Retention Credit for your operation. Learn more.

Click here to view the article in full: https://www.eidebailly.com/insights/articles/2020/5/irs-faqs-on-employee-retention-credits-and-how-they-apply-to-you?utm_source=regional_chambers&utm_medium=referral&utm_content=backlink