Help Preserve Museum Jobs: Tell Congress to Retain the Employee Retention Tax Credit for Nonprofits
Joining nonprofits across the country, AAM is urging Congress to retain the Employee Retention Tax Credit (ERTC) for our sector in the 4th Quarter of 2021. The American Rescue Plan Act added the 3rd and 4th Quarters of ERTC to provide much-needed relief to nonprofits and small businesses, but now access for the 4th quarter is proposed to be eliminated, even after nonprofits have planned for the availability of those funds.
The bipartisan Infrastructure Investment and Jobs Act bill language has a provision that would eliminate the 4th Quarter of the ERTC--this important refundable payroll tax credit for nonprofits, including museums, and small businesses is designed to provide a financial incentive to keep employees on the payroll and continue to deliver important services despite the continuing hardships caused by the COVID-19 pandemic. Read more about the ERTC here.
Please use this quick template to contact Congress now!
Thank you for taking action!
Good News: Changes to Public Service Loan Forgiveness (PSLF) Program
Museum workers, along with other nonprofit employees in the US, came into the sector relying on the government's promise through the Public Service Loan Forgiveness (PSLF) program, but only 1% of borrowers have received forgiveness under PSLF so far due to complicated eligibility rules and other factors.
Now, borrowers employed by eligible nonprofits will have greater and easier access to that promised relief, thanks to short-term revisions to PSLF. Learn about the changes in a new fact sheet by the U.S. Department of Education. If you believe you are eligible for forgiveness or wish to have your current employer certified as eligible, use the PSLF Help Tool to get started.
Read more Good News for Public Service Loan Forgiveness (PSLF) Borrowers from our partners with the National Council of Nonprofits, who, along with AAM, are members of the Coalition to Preserve PSLF.
Save the Date for Museums Advocacy Day 2022!