News & Analysis as of

Audits Employee Retention

Lippes Mathias LLP

Where's My Employee Retention Credit?

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In the years since COVID-19 shut down the country, many businesses applied for the Congressionally-authorized Employee Retention Credit (ERC), a valuable relief program created during the pandemic to support businesses who...more

Rumberger | Kirk

How to Steer Clear of Employee Retention Credit Fraud

Rumberger | Kirk on

Orlando firms need to make sure they aren’t among the thousands of U.S. businesses that potentially were tricked by scams to inadvertently file fraudulent employee retention credit claims — something punishable by fines and...more

Foodman CPAs & Advisors

ERC Voluntary Disclosure Program Re-Opens

On 7/15/24, the IRS announced via Notice IR-2024-212 the re-opening of the ERC (Employee Retention Credit) Voluntary Disclosure Program which will end on 11/22/24. The first ERC Voluntary Disclosure Program ended in March...more

Fox Rothschild LLP

IRS Reopens Employee Retention Tax Credit Voluntary Disclosure Program

Fox Rothschild LLP on

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

Baker Donelson

IRS Issues New Guidance on ERC Program – Should You Hold or Fold?

Baker Donelson on

Over the past week, the IRS has announced two significant developments in its administration and enforcement of the Employee Retention Credit (ERC). Last week, the IRS' three-part announcement signaled: (i) an end to the...more

Fox Rothschild LLP

IRS Begins Processing Some Employee Retention Tax Credit Claims Filed During the Moratorium

Fox Rothschild LLP on

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

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

IRS Resumes Processing New Claims for Employee Retention Credit

After lifting the moratorium on processing tax refund claims, the Internal Revenue Service (IRS) has begun processing a large backlog of claims for the employee retention tax credit (ERC), aimed at businesses impacted by...more

Fox Rothschild LLP

The IRS has started its own Employee Retention Credit Olympics

Fox Rothschild LLP on

Coinciding with the opening day of the Olympic games, the IRS issued IR-2024-198, again stating that it will deny tens of thousands of ERC claims that, according to the IRS at least “show clear signs of being erroneous,”...more

Littler

Tackling the Pay Gap in Poland: From “Nice to Have” to Essential

Littler on

Poland and other EU countries will have to implement the principles of equal pay and transparency into their laws by June 7, 2026, to comply with Directive (EU) 2023/970 of the European Parliament and Council of May 10, 2023,...more

Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on

In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more

Fox Rothschild LLP

ERC Voluntary Disclosure Deadline Rapidly Approaching on March 22

Fox Rothschild LLP on

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

Miller Canfield

IRS Starts Asking Direct Questions to Taxpayers on Their ERC Claims

Miller Canfield on

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

Womble Bond Dickinson

IRS Continues Aggressive Oversight and Enforcement of Employee Retention Credits

Womble Bond Dickinson on

The Employee Retention Credit (ERC) is a refundable tax credit for businesses whose employees were impacted by the COVID-19 Pandemic. The provisions are set out in § 2301 of the CARES Act and § 3111 of the Internal Revenue...more

Fox Rothschild LLP

IRS Offers Employers a Chance to Withdraw Inaccurate Employee Retention Credit Claims

Fox Rothschild LLP on

Amid an ongoing federal crackdown on fraud in COVID-19 relief programs, the IRS announced that it will offer certain employers an opportunity to withdraw Employee Retention Credit (ERC) claims if they are concerned about...more

Proskauer Rose LLP

What employers can do in a world without noncompetes

Proskauer Rose LLP on

Forfeiture clauses are one tactic. They provide a meaningful disincentive for employees to engage in competitive behavior. Noncompetes are under siege on multiple fronts. Originally published in Legal Dive - September...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

Foley & Lardner LLP

Cos. Should Heed IRS Warnings About Employee Tax Credit

Foley & Lardner LLP on

For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror. One notable exception, however, is the employee retention credit, or ERC,...more

Sheppard Mullin Richter & Hampton LLP

DHS Announces That Employers Should Continue to Use the Current I-9 Form After the Oct 31, 2022, Expiration

The Department of Homeland Security (“DHS”) announced on October 11 that employers should continue to use the current I-9 form after the October 31, 2022, expiration date. DHS will advise when the new I-9 form is...more

Mitratech Holdings, Inc

I-9 Retention & Purges - A Guide to Why They're Important

Mitratech Holdings, Inc on

As we’ve mentioned before, Form I-9, or Employment Eligibility Verification, is a crucial part of corporate compliance. While some organizations may choose to deliberately break the law in this regard, the unfortunate reality...more

Rosenberg Martin Greenberg LLP

Considering Returning Funds from the Paycheck Protection Program? Here's What You Need to Know.

For those seeking to return funds from the Paycheck Protection Program (“the PPP”) pursuant to the safe harbor, the deadline is fast approaching: May 14, 2020.  While this issue continues to generate publicity, the fear being...more

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