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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

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

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

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

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

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

Lenders Are Newest Targets in DOJ’s Paycheck Protection Program Fraud Prosecutions

With the arrest of the CEO of a New Jersey non-bank lender, the U.S. Department of Justice appears to have entered a new, more aggressive phase of its scrutiny of COVID-19 related aid and alleged fraud in the administration...more

Federal Judges Imposing Increasingly Harsh Prison Sentences for Paycheck Protection Program Fraud

The U.S. Department of Justice continues to seek long prison sentences for those convicted of COVID-19 related fraud. Recently, courts have agreed with prosecutors, and have issued increasingly lengthy prison terms to those...more

Health Care Professionals Are Key Targets in COVID Aid-Related Fraud Prosecutions

The U.S. Justice Department’s COVID-related health care fraud crackdown continues to intensify. On a single day in September 2021, the Justice Department announced criminal charges against 138 defendants in 31 federal...more

Recent False Claims Act Settlement Illustrates Key Role Of Whistleblowers In Rooting Out PPP Fraud

The owner of a Florida jet company agreed August 26, 2021, to pay a large penalty for using government aid - which was directed to his business - on his own personal expenses. The scheme came to light because of a...more

DOJ Intensifies Criminal Prosecutions Of Health Care Fraud Related To COVID-19

The Department of Justice (DOJ) has intensified its already aggressive crackdown on fraud related to COVID-19, recently announcing criminal charges against a telemedicine company executive, a physician, marketers and medical...more

COVID-19 Fraud Task Force Established

Intensifying its crackdown on suspected fraud in pandemic relief programs, the U.S. Department of Justice has established the COVID-19 Fraud Enforcement Task Force, sending a clear message that any individual or business that...more

Justice Department Continues Historic Level Of Enforcement Against COVID-19 Fraud

The Justice Department continues to intensify its crackdown on COVID-19 relief program fraud, a clear indication that any individual or business that has benefited from the government aid should expect enhanced scrutiny from...more

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