The Employee Retention Credit: Businesses may be missing out on dollars

As businesses continue to recover from losses during the pandemic, some may be missing out on money they are entitled to get back from the government through a credit against the employment taxes they pay.

The Employee Retention Credit (ERC) is an $80 billion tax program.

“It was really designed to give employers money back to encourage them to keep paying their employees during this pandemic,” said Eide Bailly Certified Public Accountant Tonya Rule.

Eligible Employers may qualify by satisfying one of two criteria: