IRS Guidance Likely on Repeal of Employee Retention Credit

IRS Guidance Likely on Repeal of Employee Retention Credit

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Nonprofit employers have also opposed the fourth-quarter termination of the ERC.

In a November 9 letter to Senate Finance Committee Chair Ron Wyden, D-Ore., David L. Thompson of the National Council of Nonprofits and Jim White of the Nonprofit Association of Oregon said preliminary results of a survey on nonprofit workforce shortages show that charitable organizations in Oregon are using the ERC to retain employees and that loss of the credit will cause more layoffs and leave more Oregonians without needed services.

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