Employee Retention Tax Credit – It’s Not Too Late

By now, most churches have heard of or even claimed Employee Retention Tax Credits (ERTC). Those that have taken advantage of the credit have seen hundreds of thousands to millions of dollars in benefits for retaining employees in 2020 and 2021. ERTC has been a lifeline for so many churches that struggled during the COVID-19 pandemic.

Have you pursued it yet?

Congress’ Employee Retention Credit (ERC) rules make tax refunds available for churches that paid employee wages and health insurance in 2020 and 2021. Is the ERC now in the rearview mirror? No. ERC remains as hot as ever with only 50% of the churches claiming this credit. Your church may qualify for the ERC.

Don’t miss the opportunity of claiming the Employee Retention Credit. 

If your church hasn’t taken advantage of this stimulus opportunity, take the quiz below to see if your church is eligible…

• Employee Retention Credit Eligibility Quiz

Here’s just one example of potential savings: A church with 10 employees each making $40,000 per year in wages could get a $50,000 ERC for 2020 and $210,000 ERC for 2021! 

Still, have questions?
Click the link below to learn more about how your church can benefit from the Employee Retention Credit.

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Clergy Financial Resources
Tax I Payroll I Bookkeeping I HR
11214 86th Avenue N.
Maple Grove, MN 55369

Tel: (888) 421.0101
Fax: (888) 876.5101

Clergy Financial Resources serves as a resource for clients to help analyze the complexity of clergy tax law, church payroll & HR issues. Our professionals are committed to helping clients stay informed about tax news, developments and trends in various specialty areas.

This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Clergy Financial Resources and the author do not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique. If you are seeking legal advice, you are encouraged to consult an attorney.

For more information or if you need additional assistance, please use the contact information below.

Clergy Financial Resources
11214 86th Avenue N.
Maple Grove, MN 55369

Tel: (888) 421-0101 
Fax: (888) 876-5101
Email: clientservices@clergyfinancial.com