Remember the ERTC?

Council of Nonprofits in the News

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Employee Retention Tax Credit

#Relief4Charities

David Thompson of the National Council of Nonprofits noted that at least some not-for-profit outfits were frozen out of other coronavirus relief measures, suggesting that the ERTC was more important to their sector. (Larger charities, for instance, couldn’t take part in the Paycheck Protection Program.)

But like the private sector, nonprofits are also having trouble finding enough workers. Scrapping the ERTC early raised about $8 billion, and Thompson estimated that a fix just for nonprofits (and to potentially kick the credit at least partly into 2022) would cost about $1 billion.

That’s not a lot in the context of a measure that could cost around $1.5 trillion to $1.75 trillion over a decade, but Thompson acknowledged that cuts both ways — that it can be hard to get tax-writing committees to take a good look at such a comparatively small piece when putting a large package together.

But a new survey from the group suggest that the nonprofit sector in Oregon — home to Senate Finance Chair Ron Wyden — will been one of the states most affected by the exit of the ERTC, so the sector is hoping that might be able to grab some attention. 

Source Name: 

Politico Morning Tax