News & Analysis as of

Relief Measures Employee Retention CARES Act

Venable LLP

ERTC Refund Lawsuits: Is Now the Time to File?

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Many employers who filed employee retention tax credit (ERTC) refund claims have been waiting months or even years to receive refund checks. The IRS stopped processing refund claims in mid‑July of 2023 and publicly announced...more

Miller Canfield

IRS Starts Asking Direct Questions to Taxpayers on Their ERC Claims

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As previously reported by Miller Canfield, unscrupulous promotors caused many taxpayers to file claims for the Employee Retention Credit even when they did not qualify. As a result, the IRS views claims for this credit with...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

Stinson LLP

Immediate Deadlines May Loom For Employee Retention Credit Claims

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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

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

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

Miller Canfield

IRS Offers Forgiveness for Erroneous Employee Retention Credit Claims

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The Employee Retention Credit (“ERC”) is a popular COVID-19 tax break that was targeted by some unscrupulous and aggressive tax promoters. These promoters flooded the IRS with ERC claims for many taxpayers who did not qualify...more

Tucker Arensberg, P.C.

The Employee Retention Tax Credit is on Hold

Tucker Arensberg, P.C. on

The IRS has placed it’s popular employee retention tax credit program on hold. Claims filed after September 14, 2023 will be placed on hold until at least the end of the year....more

Holland & Knight LLP

ERC Claim Scrutiny Increases as IRS Provides Opportunities to Limit Exposure for Invalid Claims

Holland & Knight LLP on

Citing rising concern over a "flood" of improper Employee Retention Credit (ERC) claims filed by businesses, many with the assistance of ERC claim promoters, the IRS announced on Sept. 14, 2023, that it is pausing the...more

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

IRS Places Moratorium on New Employee Retention Tax Credit Processing

On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge in questionable claim submissions. Claims already...more

Lippes Mathias LLP

Employee Retention Credit (ERC) – Proceed with Caution!

Lippes Mathias LLP on

The employee retention credit (ERC) is perhaps the most attractive – and controversial – COVID-era federal financial relief offered to the greatest number of US businesses. Congress established the ERC in the CARES Act of...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

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

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

Trusaic

You Can Still Leverage the Employee Retention Credit

Trusaic on

Even though it’s 2022, there’s still time to take advantage of the limited-time opportunity, Employee Retention Credit.  The Employee Retention Credit is simple in concept. The refundable tax credit provides...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

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

The Employee Retention Tax Credit: Retroactive Filing Is Ongoing Through 2024

​​​​​​​Many employers have already claimed millions of dollars in tax credits through the Employee Retention Tax Credit (ERTC). Those employers that have not yet claimed (or incorrectly claimed) any ERTC may still do so...more

Adams and Reese LLP

More Businesses Now Eligible for Employee Retention Credit (ERC) – Do You Qualify?

Adams and Reese LLP on

What is the ERC? Congress introduced the Employee Retention Credit (ERC) as part of the CARES Act to encourage businesses to keep employees on their payroll during the pandemic. ...more

Freeman Law

A Primer on the Employee Retention Credit (ERC)

Freeman Law on

The Employee Retention Credit – Introduction. Congress acted quickly during the worldwide COVID-19 pandemic to provide hiring and other economic incentives to employers. One particularly helpful relief provision—the employee...more

Polsinelli

How to Keep Found Money: Mitigating Risk When Claiming Employee Retention Credits

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The employee retention credit (“ERC”), enacted as part of the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act, is a fully refundable tax credit that can be as high as $26,000 per employee....more

Venable LLP

Businesses Affected by COVID-19 in 2020 or 2021 Can Still Claim Tax Credits

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While many businesses have already taken advantage of the opportunities available to them under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and subsequent COVID‑19 relief legislation, there are still...more

Obermayer Rebmann Maxwell & Hippel LLP

IRS Helps Taxpayers Avoid Tax Penalties Caused by Retroactive Termination Of Employee Retention Credit

The Employee Retention Credit (the “ERC”) was created by the CARES Act to encourage businesses to retain employees on their payroll by providing a refundable tax credit equal to 50% of qualified wages. This credit was...more

Holland & Knight LLP

Update for Employers: Recent Legislation Improves, Extends Employee Retention Credit

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Please note: This alert has been updated with new developments after the enactment of the Infrastructure Investment and Jobs Act. The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a refundable tax...more

Groom Law Group, Chartered

Infrastructure Investment and Jobs Act Expands Interest Rate Smoothing and Disaster Relief Provisions

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”) into law. IIJA contains two sections that may affect qualified retirement plans....more

Holland & Knight LLP

Update for Employers: Recent Legislation Improves, Extends Employee Retention Credit

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The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a refundable tax credit important to many employers struggling as a result of the COVID-19 pandemic. This credit, known as the Employee Retention...more

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