Course Description:
The Employee Retention Credit (ERC) was included in the Cares Act passed in March 2020 and extended and expanded in the Consolidated Appropriations Act passed in December 2020. Under these bills, an entity that meets an employee level test and can meet certain metrics of lost revenue or economic impact and was subject to a government mandate may be eligible for the credit.

In working with our clients, we are finding that it can be a significant benefit and help address their current operating environment.

The Employee Retention Credit (ERC) is designed to encourage employers whose businesses have been affected by COVID-19 to keep employees on payroll. The ERC is available to businesses and other employers, including nonprofit organizations. Under the CARES Act, those that chose to take PPP loan funding were not eligible to receive the ERC. This rule was changed retroactively by the Consolidated Appropriations Act of 2021 – employers can now take the ERC even if they received a PPP loan. The ERC was further extended by the American Rescue Plan Act in March of 2021, through the end of the calendar year. In addition, Notice 2021-20 and Notice 2021-23 were released by the IRS as guidance for the law. The webinar will provide an overview of the law and guidance in place. This interactive webinar will allow participants an opportunity to ask questions at the end.

Learning Objectives:

• Explain how the ERC can benefit senior living facilities
• Explore various opportunities for ERC
• Summarize the overall law and guidance in place

Presenters:
Shawn Deluhery, CPA, Health Care Consulting Senior Manager | Eide Bailly
Shawn joined Eide Bailly in 2011 and serves healthcare providers in areas of finance, operations and strategic consulting. His experience includes performing operation engagements for providers looking for further efficiency and other improvements to service line operations. Shawn has been working with healthcare providers across the industry assessing their qualifications for the Employee Retention Credits. Shawn brings a clear communication style, operations focus, and modeling leadership to helps clients make informed decisions.

Brad DeJong, CPA Partner-in-Charge of Senior Living | Eide Bailly
Since 1993, Brad has been working with hospitals and senior living facilities leading annual audit and compliance services. Brad works closely with his clients providing business advisory services around strategic planning, capital financing, and operational improvement to assist them with meeting their organizational goals.

When working with Brad, clients can expect a trusted advisor with a personal connection to the firm. Brad understands his client's needs and utilizes the firm's resources to get the right person involved, ultimately resulting in confident solutions to their problems delivered in a timely manner.