NOT2211. COVID-19 Relief Update / ERC

It's not too late for taxpayers, including not-for-profit entities, to claim the Employee Retention Tax Credit (ERTC) for 2020 and 2021. Potential refunds of up to $5,000 per eligible employee for 2020 and $7,000 per quarter per eligible employee for 2021 could be achieved. We will also look at other COVID-19 relief programs that can be beneficial to your organization or clients.

Learning Objectives:

• Analyze the ERTC calculation in depth including the special definition of gross receipts for not-for-profit entities.
• Recall troublesome ERTC rules and PPP loan forgiveness nuances.
• Recognize the latest ERTC guidance and how it may impact your organization.