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Voluntary Disclosure Eligibility

Butler Snow LLP

IRS Employee Retention Credit Voluntary Disclosure Program Ends in March 2024: What You Need to Know

Butler Snow LLP on

In Announcement 2024-3, the IRS introduced the Employee Retention Credit Voluntary Disclosure Program (the “VDP”) to allow participants to resolve erroneous ERC claims in exchange for civil non-enforcement from the IRS. The...more

Kramer Levin Naftalis & Frankel LLP

Voluntary Disclosure Program Announced for Pandemic-Related Employee Retention Credits

On Dec. 21, 2023, the IRS announced the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP), which helps eligible taxpayers pay back the money they had received for erroneously filed Employee Retention Credit...more

Blank Rome LLP

The IRS Announces Employee Retention Tax Credit Voluntary Disclosure Program: Why You May Want to Take a Look

Blank Rome LLP on

It’s no secret. Lots of people made poor decisions about their eligibility for the employee retention credit (“ERC”), which was passed by Congress to help businesses weather the pandemic-induced economic downturn. Apart from...more

Cooley LLP

IRS Announces Voluntary Disclosure Program for Erroneously Received Employee Retention Credits

Cooley LLP on

On December 21, 2023, the IRS announced (IR-2023-247) a voluntary disclosure program for employers to return payments received in respect of erroneously submitted ERC claims. The IRS also provided a list of frequently asked...more

Fox Rothschild LLP

New IRS Program Lets Businesses Repay Questionable Employee Retention Credits at a Discount

Fox Rothschild LLP on

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

Fox Rothschild LLP

IRS Rejects 20,000 Employee Retention Tax Credit Claims, Plans to Offer New Voluntary Disclosure Program

Fox Rothschild LLP on

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

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