News & Analysis as of

Employee Retention Tax Relief Coronavirus/COVID-19

Husch Blackwell LLP

IRS Introduces Second Opportunity for ERC Claimants to Correct Errors

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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

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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

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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

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Resumes Processing New Claims for Employee Retention Credit

After lifting the moratorium on processing tax refund claims, the Internal Revenue Service (IRS) has begun processing a large backlog of claims for the employee retention tax credit (ERC), aimed at businesses impacted by...more

PilieroMazza PLLC

Employee Retention Credit: Moratorium, Withdrawals, and March 22 Deadline for Voluntary Disclosure Program

PilieroMazza PLLC on

The Employee Retention Credit (ERC)—sometimes called the Employee Retention Tax Credit or ERTC—is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected...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

Keating Muething & Klekamp PLL

The IRS is Aggressively Pursuing Employee Retention Credit Claims. Are You at Risk?

Congress enacted the Employee Retention Credit (“ERC”) during the COVID-19 pandemic to help employers retain their workforce and stay current on payroll despite economic difficulties that plagued the world. The legislation...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

Roetzel & Andress

Employee Retention Tax Credit: Post COVID Updates for Healthcare Practices

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Joining host Ericka Adler on the #HealthLawHotSpot this week is fellow Roetzel shareholder and leader of the tax practice group, attorney Donna Hartl. Donna provides insight on how and why the Employee Retention Tax Credit...more

Gray Reed

ERC Claims on Hold While IRS Figures Out What it Thinks is Real

Gray Reed on

The IRS recently issued a press release regarding its “continuous efforts to combat dubious Employee Retention Credit (ERC) claims” to announce an initial round of over 20,000 notification letters of disallowed ERC claims....more

Tucker Arensberg, P.C.

Review of Employee Retention Tax Credit (ERTC) Claim

Tucker Arensberg, P.C. on

During the COVID quarantine, congress enacted the Employee Retention Tax Credit (“ERTC”). The purpose of the credit was to provide funds for employers whose business activity was reduced or shut down because of COVID....more

Gray Reed

IRS Chief Counsel Issues GLAMon ERC Supply-Chain Disruption Eligibility

Gray Reed on

Section 2301 of the CARES Act, as amended, permits employers to claim employee retention credits (“ERCs”) if they meet certain requirements. Under one of those requirements, an employer may claim an ERC if the employer’s...more

Jackson Walker

What the IRS is Saying Lately about the Employee Retention Tax Credit

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The employee retention tax credit (“ERTC”) has garnered a lot of “buzz” lately – both from the IRS and businesses who have either received the credit or are seeking the credit. The buzz is well deserved, as the IRS has...more

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

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The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more

Burns & Levinson LLP

Client Advisory: Employee Retention Tax Credit and More on the IRS Fraud Alert

Burns & Levinson LLP on

Federal legislation relating to the employee retention tax credit (“ERTC”), passed to alleviate the financial burdens of businesses shut down due to governmental orders during COVID, is discussed in a prior Client Advisory....more

Manatt, Phelps & Phillips, LLP

The Employee Retention Credit: Reduce Employer Payroll Taxes and Generate Cash

Added to federal tax law by the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and further expanded in 2021, the Employee Retention C redit (ERC) can significantly reduce an employer’s federal employment...more

Polsinelli

Employee Retention Tax Credits Update: IRS Warns Taxpayers to Beware

Polsinelli on

On October 19, 2022, the Internal Revenue Service (“Service”) issued news release IR-2022-183, which was intended to warn employers using third-party promoters of Employee Retention Tax Credits (“ERTCs”).  ERTCs were created...more

Ruder Ware

Employers Beware: IRS Cautions Employers Against Engaging Third Party Employee Retention Credit Consultants

Ruder Ware on

Recently, we have been fielding a fair number of inquiries from clients who have been approached by third parties urging them to claim the Employee Retention Credit (“ERC”)... ...more

Ballard Spahr LLP

ARP: Tax Provisions

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ARP Tax Changes Include Credit Extensions/Expansions, Tax Relief for EIDL and Grant Recipients, and Changes to Worldwide Interest Allocation Rules - Among many other provisions, the American Rescue Plan (ARP), the $1.9...more

Burr & Forman

Retroactive 2020 Employee Retention Credit Changes and 2021 Enhancements

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The Employee Retention Credit, as originally enacted on March 27, 2020 by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is a refundable tax credit against certain employment taxes equal to 50% of the...more

Ballard Spahr LLP

Stimulus Bill Resolves PPP Loan Deductibilty, Enhances Employee Retention Credits, Provides Other Tax Relief

Ballard Spahr LLP on

Included as part of the Stimulus Bill (the Bill) are the COVID-Related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. For a discussion of other aspects of the Bill, see our...more

Faegre Drinker Biddle & Reath LLP

Congress Extends and Liberalizes COVID-19 Tax Benefits

The mammoth appropriations legislation passed by the House and Senate on Monday, December 21 includes a number of tax-related provisions. We have summarized in this tax alert the provisions that we expect are most likely to...more

Dickinson Wright

Dickinson Wright COVID-19 Resource Guide

Dickinson Wright on

Dickinson Wright created the COVID-19 Resource Guide as an easy-to-use document for businesses and individuals. We thank our knowledgeable authors and contributors, who provided their time and talent to produce these...more

ArentFox Schiff

Senate Republicans Propose Additional Tax Relief in HEALS Act

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The tax provisions of the HEALS Act would expand upon and modify several provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act, including the employee retention tax credit, while also introducing...more

A&O Shearman

Coronavirus Tax Relief Provisions Raise Surprising M&A Considerations

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Two key provisions included in the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”)—the Paycheck Protection Program (PPP) and the Employee Retention Tax Credit (ERTC)—are raising surprising new issues in...more

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