Many employers, including private schools, have benefited from the pandemic-aid-funded Employee Retention Credit (ERC) through the IRS.
WCRIS received a refund of over $70,000, and many of our schools have received tens of thousands more. Check with your accountant today to ensure that your school applies. The program does not end until March and then phases out by quarter, still providing some benefit. The Council for American Private Education (CAPE) has told us that most schools are eligible.
CAPE also notes that the IRS is warning applicants to beware of scams to apply for the credit. Heed their warning and work only with a known and trusted, local financial advisor or accountant.
CAPE says the ERC is not considered Federal Financial Assistance (FFA) because it is a refund of money your school already paid to the government. As you know, FFA is dangerous because it obligates your school to follow federal laws and rules that may violate your religious beliefs or values.
