How to Claim the Employee Retention Credit

From OMA Connections Partner GBQ: If you were not able to receive a Small Business Interruption Loan under the Paycheck Protection Program, or if you repaid that loan by May 18, 2020, you may be eligible for the Employee Retention Credit.

The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. The maximum credit is $5,000 per employee. More from GBQ here. 5/21/2020