April 12, 2021

USAE News Quotes Chris Moran on the Employee Retention Tax Credit

1 min

On April 12, 2021, Chris Moran was quoted in USAE News on the Employee Retention Tax Credit (ERTC), a lifeline offering economic relief to most employers, including 501(c) organizations, during the pandemic.

According to the article, the ERTC, a provision of the CARES Act, has been extended and expanded and can be claimed through December 31, 2021 by eligible employers who retained employees during the COVID-19 pandemic. ETRC qualification is determined by one of two factors: trades or business that were fully or partially suspended or had to reduce business hours because of a government order, and employers that have a significant decline in gross receipts.

“Venable has been advising cultural organizations, trade associations, educational institutions, and other nonprofit and for-profit organizations on all aspects of the employee retention credit, including analyzing eligibility for the credit, providing important legislative updates, and advising on the procedures for calculating and claiming the credit,” Moran told USAE. “The employee retention credit can provide vital financial relief to nonprofit organizations, many of which are just becoming aware of its benefits.”