
Stuart M. Schabes
Articles
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Jan 11, 2024 |
jdsupra.com | Seth Kossman |Stuart M. Schabes
As previously indicated, on December 21, 2023, the IRS launched the latest installment in a series of efforts to claw back pandemic-era tax credits erroneously received by ineligible employers. The Employee Retention Credit Voluntary Disclosure Program (ERC-VDP) allows participating employers who need or want to repay the ERC to voluntarily pay back 80 percent of the total amount received as a credit or refund.
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Dec 21, 2023 |
jdsupra.com | Seth Kossman |Stuart M. Schabes
December 21, 2023 To embed, copy and paste the code into your website or blog: In an ongoing effort to combat suspect Employee Retention Credit (ERC) claims, on December 6 the IRS announced that it will issue an initial round of more than 20,000 letters disallowing some ERC claims, filed by "fictitious" entities that either: Did not exist for periods between March 13, 2020, and December 31, 2021; or Did not have paid employees during the period for which the ERC credit was claimed. In...
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