Nonprofits Affected by COVID-19 in 2020 or 2021 Can Still Claim Tax Credits

While many nonprofits have already taken advantage of the opportunities available to them under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and subsequent COVID-19 relief legislation, there are still financial benefits to be had. Specifically, nonprofits may be eligible for more benefits under the Employee Retention Credit (ERC), a refundable payroll tax credit available in 2020 and 2021 for employers, including nonprofits, whose operations were fully or partially...
By: Venable LLP