NPOs Can Still Get CARES Act Employee Retention Credit

As pandemic-era support programs continue to sunset, financial relief is still available for some nonprofit organizations impacted by COVID-19. The Employee Retention Tax Credit (ERC) is a rare tax credit (taken against employment taxes) available to tax-exempt organizations and was passed as part of the CARES Act in 2020. To be eligible, an organization must pass the Gross Receipts Test (GRT) or the Government Orders Test (GOT), which show whether an agency experienced a significant decline in gross receipts or their operations were restricted due to government order, respectively. There is still time to take advantage of this opportunity. Click here to learn more from The NonProfit Times.