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Relief Measures Tax Refunds Internal Revenue Service

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

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

McDermott Will & Emery

New Revenue Ruling 2020-8 Helps Taxpayers Seek COVID-19 Tax Refund Claims

McDermott Will & Emery on

Recently, in Revenue Ruling 2020-8, the Internal Revenue Service (IRS) announced that it was suspending Revenue Ruling 71-533, which had addressed the interaction of two Internal Revenue Code (IRC) provisions regarding...more

ArentFox Schiff

IRS Extends Time to Request NOL Tentative Carryback Adjustment

ArentFox Schiff on

The IRS has granted a six-month extension to file applications for a tentative carryback adjustment under the “quickie” refund procedure for net operating losses that arose in tax years that began in calendar year 2018 and...more

McGlinchey Stafford

What does the CARES Act mean for net operating losses and non-corporate business losses?

McGlinchey Stafford on

The CARES Act temporarily suspends retroactively changes made to the treatment of net operating losses by the 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”). It also suspends retroactively the limitation on excess business...more

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