What is ERC?
The CARES Act Funding has been a significant source of support for schools across the United States, providing hundreds of thousands of dollars to help ease the burden of the ongoing pandemic. The Employee Retention Credit is one of the initiatives that supports schools. The best part about this funding is that it’s not restricted, meaning that schools can use it for any expenses they need.
“The Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay employees while shut down due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020 to Dec. 31, 2021. Eligible employers can claim the ERC on an original or adjusted employment tax return for a period within those dates.”
To help schools make the most of this opportunity, ISLA & ERC Specialists conducted a webinar that covered the details of how schools can check their eligibility for the funds and claim their tax credit. The webinar provided valuable insights and guidance to help schools navigate the process effectively.
It’s important to note that schools should take advantage of this opportunity as soon as possible, as the funds are available for a limited time. By checking their eligibility and claiming the tax credit, schools can gain the financial resources they need to support their students and staff during these challenging times.
Webinar Slide Deck
The ERC Specialists is one organization that offers to check school eligibility for free. In the event that a school is deemed eligible, the ERC Specialists can assist with the application process for a nominal fee. If you use this link, ISLA receives a small referral donation.
To learn about Employee Retention Credits (ERC) and how to generate funding for your school, Visit this website which ERC Specialists have created for ISLA-affiliated schools: www.islaerc.com