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IRS Reopens Employee Retention Tax Credit Voluntary Disclosure Program

The ERC is a legitimate, refundable tax credit designed to help businesses that continued to pay employees while they were shut down because of the COVID-19 pandemic or that experienced a significant decline in gross receipts...more

IRS Begins Processing Some Employee Retention Tax Credit Claims Filed During the Moratorium

The Internal Revenue Service has adjusted its moratorium on processing Employee Retention Tax Credit (ERC) claims, announcing last week it will begin processing claims filed between September 14, 2023 and January 31, 2024. In...more

IRS Increases Pressure on Businesses That Claimed Employee Retention Tax Credits

The Internal Revenue Service (IRS) recently issued a news release identifying five new signs that a business’s Employee Retention Tax Credit (ERC) may be incorrect. It has also begun issuing a third round of letters denying...more

Why Some Taxpayers With Unprocessed ERC Claims Should Consider Filing a Refund Lawsuit

With the IRS showing no sign of lifting its moratorium on processing Employee Retention Tax Credit (ERC) claims filed after September 14, 2023, businesses whose unpaid, legitimate ERC claims are older than six months should...more

ERC Voluntary Disclosure Deadline Rapidly Approaching on March 22

The March 22 deadline for applying to the IRS Voluntary Disclosure Program (VDP) to repay improperly claimed Employee Retention Credits (ERC) at a discount is just around the corner. The VDP requires businesses to repay only...more

Millionaires, Corporate Jets and Crypto: IRS Unveils New Enforcement Initiatives

Thanks to a dramatic increase in funding courtesy of the Inflation Reduction Act of 2022, the Internal Revenue Service recently announced several new, high-profile enforcement initiatives designed to generate significantly...more

IRS Identifies Seven ERC Red Flags (and Other ERC Updates)

The IRS recently issued a news release identifying seven signs that a business’s Employee Retention Tax Credit (the ERC) may be incorrect. The IRS identified these warning signs based on feedback from tax professionals and...more

Bill Proposes January 31 as Last Day to File Employee Retention Credit Claims

The House Ways and Means Committee recently advanced a bill that gives businesses a proposed deadline of January 31, 2024 to file Employee Retention Credit (ERC) claims. Known as the Tax Relief for American Families and...more

Employee Retention Tax Credit: Updates From Congress and the IRS

There are several new developments in the Internal Revenue Service’s ongoing campaign to combat false and fraudulent Employee Retention Credit (ERC) claims, including an indefinite extension of the agency’s moratorium on...more

New IRS Program Lets Businesses Repay Questionable Employee Retention Credits at a Discount

The Internal Revenue Service has announced a new Voluntary Disclosure Program (VDP) that offers businesses a limited-time opportunity to repay improperly claimed Employee Retention Credits (ERC) at a discount while avoiding...more

IRS Rejects 20,000 Employee Retention Tax Credit Claims, Plans to Offer New Voluntary Disclosure Program

In its most recent effort to fight fraudulent and improper Employee Retention Tax Credit (ERC) claims, the Internal Revenue Service (IRS) is notifying an initial 20,000 taxpayers that it is rejecting their claims. The IRS,...more

IRS Offers Employers a Chance to Withdraw Inaccurate Employee Retention Credit Claims

Amid an ongoing federal crackdown on fraud in COVID-19 relief programs, the IRS announced that it will offer certain employers an opportunity to withdraw Employee Retention Credit (ERC) claims if they are concerned about...more

IRS Halts Processing of New Employee Retention Credit Claims, Redoubles Efforts Against Fraud

Responding to concerns about extensive fraud and scams involving the Employee Retention Credit (ERC), the Internal Revenue Service (IRS) has stopped processing new ERC claims, published updated frequently asked questions...more

The Presumption of Innocence Podcast: Episode 21 - Conservation Easement Donations: Tax Shelter or Charitable Contribution... [Audio]

“If it is a conservation easement and the people who are receiving the deduction are outside of family...the IRS assumption is that it's a tax shelter.” A backlog of conservation easement Tax Court cases and IRS audits are...more

IRS Renews Warning on Employee Retention Credit Fraud, DOJ Files First Criminal Charges

Employers should be careful before claiming the Employee Retention Credit (ERC). Over the past several months, the Internal Revenue Service (IRS) has warned taxpayers twice about third parties who advise employers to claim...more

DOJ Formalizes Framework for Corporate Cooperation Credit

The Department of Justice (DOJ) announced a new voluntary self-disclosure policy February 22, 2023, that sets uniform criteria for how and when prosecutors should reward corporate cooperation in criminal investigations. The...more

Federal Reserve Board Fines Bank for Processing PPP Loans That Had Signs of Fraud

In its first enforcement action related to COVID-19 government aid programs, the Federal Reserve Board recently announced that it has fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program...more

House Subcommittee Singles Out Fintech Companies, Government Officials and PPP Lenders for Roles in COVID-19 Related Fraud

The House Select Subcommittee on the Coronavirus Crisis, chaired by Rep. James E. Clyburn, released the final report on its investigation into the use and distribution of $5 trillion in federal pandemic-related aid,...more

Inspector General Faults Internal Revenue Service for Handling of Pandemic Relief Benefits

Continued Internal Revenue Service processing delays are preventing businesses from receiving pandemic relief benefits, according to the U.S. Treasury Inspector General for Tax Administration (TIGTA). And at the same time,...more

The Federal Government’s Continued Focus on COVID-19 Aid Fraud Leads to New Charges, Convictions and Sentencings

The Justice Department recently announced new charges, convictions and sentencings in its ongoing initiative to target pandemic-related fraud, emphasizing the government’s commitment to identify and hold accountable those who...more

Justice Department Settles First Whistleblower Case Alleging PPP Fraud in Which It Intervened

The Justice Department has announced a civil settlement of the first Paycheck Protection Program (PPP) fraud whistleblower case in which the government intervened. This milestone should remind PPP borrowers they should...more

AICPA Urges IRS to Extend Deadline for COVID-19 Penalty Relief, Expand Scope

The American Institute of CPAs (AICPA) has applauded the Internal Revenue Service for granting automatic penalty relief related to select 2019 and 2020 returns, but asked for two tweaks to the process: The group wants...more

Justice Department Announces First False Claims Act Settlement With PPP Lender and Unveils New COVID-19 Fraud Strike Force Teams

The Justice Department has announced the first-ever False Claims Act settlement with a lender to resolve allegations related to processing a Paycheck Protection Program loan on behalf of an ineligible customer. This...more

Internal Revenue Service Announces Sweeping Penalty Relief for 2019, 2020 Tax Returns

The Internal Revenue Service plans to provide widespread penalty relief for the late filing of certain tax and information returns for the 2019 and 2020 tax years. According to Notice 2022-36, this latest penalty relief...more

Internal Revenue Service Unveils “Dirty Dozen” Tax Scams for 2022

The Internal Revenue Service has announced the first installment of its annual “Dirty Dozen” list of tax scams. Published every year, the “Dirty Dozen” comprises the twelve most prevalent tax scams that taxpayers may...more

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