How to determine whether a diocese and parish(es) must be aggregated for the purposes of the Employee Retention Tax Credit (ERTC)

INTRODUCTION  Determining whether a diocese and parish must be aggregated for the ERTC is a simple process. If you are tasked with figuring this out, start with these two questions: In the prior tax year did the diocese provide 80% (or more) of the funding for the parish? Does the diocese provide daily management over […]
Read more

BREAKING ERTC NEWS: Same as the Old News

On Monday, July 24th 2023, the IRS released "new" final regulations related to the Employee Retention Tax Credit (ERTC). There is nothing surprising (or even of real substance) in the new regulations. In short, the regulations authorize the IRS to collect amounts from employers that should not have gotten them in the first place, and to apply the standard penalties that apply to payroll tax underpayments.
Read more

Church-controlled Organizations may Disaggregate from the Church for Employee Retention Tax Credit Purposes.

Churches & Church-related Organizations can Receive Large Refund Checks from the IRS The Employee Retention Tax Credit (ERTC) presents an opportunity for employers to receive a stimulus-like incentive in the form of a refundable tax credit for every employee that they employed from the second quarter of 2020 to the 3rd quarter of 2021.  Specifically, […]
Read more