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
8/21/2024
/ Audits ,
CARES Act ,
Cooperation ,
Coronavirus/COVID-19 ,
Criminal Investigations ,
Deadlines ,
Employee Retention ,
Fraud ,
Internal Revenue Code (IRC) ,
Investigations ,
IRS ,
Tax Credits ,
Tax Relief ,
Voluntary Disclosure
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
8/13/2024
/ Audits ,
CARES Act ,
Coronavirus/COVID-19 ,
Criminal Investigations ,
Employee Retention ,
Fraud ,
Investigations ,
IRS ,
Tax Credits ,
Tax Relief ,
Voluntary Disclosure
The Internal Revenue Service (IRS) recently issued a news release identifying five new signs that a business’s Employee Retention Tax Credit (ERC) may be incorrect. It has also begun issuing a third round of letters denying...more
8/9/2024
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Employee Retention ,
Enforcement ,
Fraud ,
IRS ,
IRS Independent Office of Appeals ,
Paycheck Protection Program (PPP) ,
Tax Credits ,
Wage and Hour
The March 22 deadline for applying to the IRS Voluntary Disclosure Program (VDP) to repay improperly claimed Employee Retention Credits (ERC) at a discount is just around the corner. The VDP requires businesses to repay only...more
With three years’ worth of legislative changes impacting the Employee Retention Credit (ERC) program, a host of complex eligibility rules and predatory third-party promoters, it’s no surprise that enforcement is on the rise...more
One of the most attractive aspects of the Paycheck Protection Program loans that were included in the 2020 Coronavirus Aid, Relief and Economic Security Act (CARES Act) was an employer’s ability to apply to have its loan...more
The U.S. Department of Justice took several victory laps this month, touting long prison sentences it has secured for COVID-19 related fraud. These prison terms send a clear message to any individual or business that...more
7/27/2021
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Economic Injury Disaster Loans ,
False Claims Act (FCA) ,
Fraud ,
Investigations ,
Money Laundering ,
Paycheck Protection Program (PPP) ,
Prison
The Department of Justice (DOJ) has intensified its already aggressive crackdown on fraud related to COVID-19, recently announcing criminal charges against a telemedicine company executive, a physician, marketers and medical...more
6/8/2021
/ CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
FBI ,
Fraud ,
Healthcare ,
OIG ,
Paycheck Protection Program (PPP) ,
Personally Identifiable Information ,
Popular ,
Provider Relief Fund ,
Telemedicine ,
Virus Testing
The Small Business Administration is conducting inquiries into some of the loans obtained through the Paycheck Protection Program that seek details about a company’s financial status not only before the loan was requested,...more
If the Biden administration's early moves are any indicator, its Department of Justice (DOJ) is poised to devote more time and energy to the prosecution of white-collar crime than it did under the Trump administration, when...more
3/12/2021
/ Biden Administration ,
CARES Act ,
Coronavirus/COVID-19 ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Healthcare Fraud ,
Paycheck Protection Program (PPP) ,
SBA ,
Trump Administration ,
White Collar Crimes
The Small Business Administration (SBA) has opened the portal for applications for forgiveness of Paycheck Protection Program (PPP) loans established under the Coronavirus Aid, Relief and Economic Security Act (CARES Act)....more
With the uncertainty created by the global COVID-19 pandemic, it is hard to find anything like a sure bet. States are grappling with when to reopen, parents with school-aged children are awaiting news of when and if their...more
5/26/2020
/ Business Closures ,
CARES Act ,
Coronavirus/COVID-19 ,
DPA ,
Federal Trade Commission (FTC) ,
Investigations ,
Main Street Lending Programs ,
Pandemic ,
Paycheck Protection Program (PPP) ,
SBA ,
TARP ,
U.S. Treasury