Private & Parochial Schools

If you operate a business in the education industry, were impacted by COVID-19 restrictions, and have W2 employees--you are likely eligible to receive ERC.

How we help

The COVID-19 pandemic had a significant impact on businesses and organizations of all kinds. Schools were no exception. The education sector faced numerous challenges, including school closures, a decrease in attendance rate, and an increase in expenses for technology and safety measures. 

To help alleviate some of the financial burdens on businesses affected by the pandemic, the government introduced the Employee Retention Credit (ERC). This tax credit could provide a significant cash benefit per employee kept on the payroll to private and parochial schools that meet certain criteria.

If you might be eligible for ERC, speak to an experienced Certified Public Accountant (CPA) at Strategic Tax Planning to understand the details about your eligibility and gain the maximum credit available to you. Call us for a free eligibility analysis at (202) 455-6010 or submit your information in our contact form, and we will reach out to you.

Is Your School Eligible for ERC?

There are many factors that might allow your private or parochial school to qualify for the Employee Retention Credit. That is why it is important to speak with tax professionals and CPAs to understand your eligibility. 

While your school may have received Paycheck Protection Program (PPP) loans in the past, you will still have the opportunity to apply for ERC. 

If your private or parochial school experienced any of the following, you may be eligible for ERC:

  • Full or partial campus shutdowns
  • Limitations on the school’s ability to charge for extracurricular activities
  • Mandated closures of daycare services
  • Drop in revenue
What If Your School Gained Increased Funding in 2020 and 2021?

While many private and parochial schools experienced a drop in funding due to government mandates and safety measures taken during the pandemic, it is still possible that your revenue increased during this time. 

Fortunately, schools that received an increase in revenue may still be eligible for ERC if the school was affected by a number of government-mandated restrictions. Speaking with a Certified Public Accountant will help you understand if your school falls into this category.

How Long is the ERC Refund Processing Timeline?

Business owners who have already filed for Employee Retention Credit are probably wondering when they can expect to receive the tax credit. With such a large number of businesses being affected by the pandemic, the IRS has a high volume of applications to process. Every case is different and will have a unique timeline. Your refund could be processed in about 8 months, although it may take longer. 

If you wish to check the status of your refund, you may call the IRS, or use the “Where’s My Refund?” feature on the IRS website. 

Find a CPA Firm You Can Trust

Claiming the Employee Retention Credit can be a relief to many schools after facing so many twists and turns during the pandemic. However, it is important to note that the IRS will scrutinize your eligibility claim. Submitting an erroneous claim can lead to audits and other concerns down the line, which is why it is important to reach out for professional assistance.

Strategic Tax Planning has experienced CPAs who will work closely with you to ensure that all qualifications are met and all facts are accurate. Obtain the relief you deserve from persevering through difficult times.

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How We Help Businesses Receive the ERC
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Identify Eligibility

We analyze your business to determine if you qualify for the Employee Retention Credit.

Compile Documentation

We will help your gather the essential documentation as comprehensive support for your ERC claim.

Optimize Strategy

Our team will develop a tax planning strategy that optimizes benefits for your unique situation.

Ensure Compliance

We will mitigate your risk by ensuring you stay compliant with regulatory guidelines.

Expert guidance for your every tax move

Meet our Tax Professionals

Managing Director
Director of R&D Tax Credits
Tax Consultant
Senior Tax Research Consultant

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