The PSWC is trying to make sure all of our churches take advantage of this incredible funding opportunity before it's too late! To date, we have helped over 30 churches submit claims totaling over $1.5 Million dollars collectively! Here's how your ministry can participate...
A. What is it?
The ERC is a refundable tax credit for businesses that continued to pay employees while shut down due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020 to Dec. 31, 2021. Most churches are eligible to receive this credit!
(Official IRS Webpage: https://www.irs.gov/coronavirus/employee-retention-credit)
B. What's the Benefit?
Free money! Depending on your staffing and the losses incurred during Covid, churches can receive an amount up
to somewhat in the ballpark of their PPP loan (in a few cases even more).
C. What is the Cost?
The PSWC is helping our churches receive these funds AT NO COST to you! You may see solicitations from organizations charging up to 25% of the refund, DO NOT PAY THESE FEES! We are happy to serve you free of charge. Once the refund has been received, if the church is able, we would be grateful if you could bless the PSWC with a small percentage donation of the refunded amount.
D. What is the Urgency?
According to the IRS the deadline to apply for 2020 ERC funds is April 15, 2024; however, the latest budget negotiations in Congress may eliminate these funds in the next few weeks! Therefore, we are urging all of our churches to connect with us so we can help you to respond quickly!
E. How do I Get Started?
See the PDF below for the five (5) items required for the application. When you have these items collected, or if you need assistance, please contact Erika (PSWC Finance Director) at erika.basak@pswc.org.
F. How Long before We Receive the Funds?
Our PSWC team (Erika & Steve Dawson) will take about a week to review and help complete the application and tax forms. Once the forms are submitted, we are told that refunds are taking 4-6 months (perhaps longer for larger claims) for the IRS check to be received.
We look forward to partnering with you and your church to apply for this credit and hearing how these funds will bolster the ministry
TO APPLY IN ENGLISH CLICK HERE
PARA APLICAR EN ESPAÑOL HAGA CLIC AQUÍ