Innovation in Nonprofit Finance Blog

Proposed Legislation Could Impact Nonprofit ERC Filings

Legislation released by the House Ways and Means Committee yesterday, 1/16/24, proposes a number of changes – notably a provision that would end ERC filing substantially earlier than the initial deadline. This would limit the ability for nonprofits who have not yet filed to claim the credit. Under this proposal, all claims (2020 and 2021 credits) would need to be submitted in two weeks – January 31, 2024, in order to be eligible for processing.

Currently, the deadlines for filing are:

  • 2020 claims: Due April 15, 2024
  • 2021 claims: Due April 15, 2025

This legislation is currently only proposed, but all organizations currently working through ERC eligibility, calculations, or 941X preparation should be aware of this proposed change and the potential timeline.

See additional details in this recently released CLA article and stay tuned for updates as we have them.

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