News & Analysis as of

CARES Act Internal Revenue Service Voluntary Disclosure

Rumberger | Kirk

How to Steer Clear of Employee Retention Credit Fraud

Rumberger | Kirk on

Orlando firms need to make sure they aren’t among the thousands of U.S. businesses that potentially were tricked by scams to inadvertently file fraudulent employee retention credit claims — something punishable by fines and...more

Foodman CPAs & Advisors

ERC Voluntary Disclosure Program Re-Opens

On 7/15/24, the IRS announced via Notice IR-2024-212 the re-opening of the ERC (Employee Retention Credit) Voluntary Disclosure Program which will end on 11/22/24. The first ERC Voluntary Disclosure Program ended in March...more

Husch Blackwell LLP

IRS Introduces Second Opportunity for ERC Claimants to Correct Errors

Husch Blackwell LLP on

On August 15, 2024, the Internal Revenue Service (IRS) launched a second Employee Retention Credit (ERC) Voluntary Disclosure Program for employers to correct any mistakes related to their ERC claims. The ERC, introduced by...more

Fox Rothschild LLP

IRS Reopens Employee Retention Tax Credit Voluntary Disclosure Program

Fox Rothschild LLP on

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

Fox Rothschild LLP

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

Fox Rothschild LLP on

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

Fox Rothschild LLP

ERC Voluntary Disclosure Deadline Rapidly Approaching on March 22

Fox Rothschild LLP on

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

Womble Bond Dickinson

IRS Continues Aggressive Oversight and Enforcement of Employee Retention Credits

Womble Bond Dickinson on

The Employee Retention Credit (ERC) is a refundable tax credit for businesses whose employees were impacted by the COVID-19 Pandemic. The provisions are set out in § 2301 of the CARES Act and § 3111 of the Internal Revenue...more

Stinson LLP

Immediate Deadlines May Loom For Employee Retention Credit Claims

Stinson LLP on

In late 2023, the Internal Revenue Service (IRS) implemented three important initiatives that will impact employers who have filed, or intend to file, Employee Retention Credit (ERC) refund claims. This alert provides a brief...more

Winthrop & Weinstine, P.A.

The Employee Retention Tax Credit: IRS Developments and Strategy for Taxpayers

The Employee Retention Tax Credit (“ERTC”), under the CARES Act, is a refundable tax credit filed against a company’s payroll taxes. The ERTC was enacted to incentivize employers to maintain their employee base during the...more

Miller & Martin PLLC

IRS Announces Voluntary Disclosure Program for Employee Retention Credit Claims

Miller & Martin PLLC on

The Internal Revenue Service has announced a voluntary disclosure program for employers that may have filed non-qualifying Employee Retention Credit (ERC) claims under the CARES Act for the wages paid during 2020 and 2021....more

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