News & Analysis as of

Employee Retention Tax Relief

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 44 - A Recipe for Litigation: The Simmering Conflict Surrounding ERC Claims

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Is the IRS prepping a legal stew for businesses that filed for Employee Retention Credit (ERC) relief? Host Matt Adams invites Fox Rothschild partner Elizabeth Blickley into the proverbial kitchen for this episode. They...more

Hahn Loeser & Parks LLP

IRS Launches Second ERC Voluntary Disclosure Program

Many well-meaning businesses have been victims of unscrupulous promoters of Employee Retention Credits (“ERC”). The promoters have facilitated the filings of ERCs to which the employers may not necessarily be entitled. The...more

Husch Blackwell LLP

IRS Introduces Second Opportunity for ERC Claimants to Correct Errors

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On August 15, 2024, the Internal Revenue Service (IRS) launched a second Employee Retention Credit (ERC) Voluntary Disclosure Program for employers to correct any mistakes related to their ERC claims. The ERC, introduced by...more

Fox Rothschild LLP

IRS Reopens Employee Retention Tax Credit Voluntary Disclosure Program

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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

Fox Rothschild LLP

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

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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

Why Some Taxpayers With Unprocessed ERC Claims Should Consider Filing a Refund Lawsuit

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With the IRS showing no sign of lifting its moratorium on processing Employee Retention Tax Credit (ERC) claims filed after September 14, 2023, businesses whose unpaid, legitimate ERC claims are older than six months should...more

PilieroMazza PLLC

Employee Retention Credit: Moratorium, Withdrawals, and March 22 Deadline for Voluntary Disclosure Program

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The Employee Retention Credit (ERC)—sometimes called the Employee Retention Tax Credit or ERTC—is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected...more

Womble Bond Dickinson

IRS Continues Aggressive Oversight and Enforcement of Employee Retention Credits

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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

Keating Muething & Klekamp PLL

The IRS is Aggressively Pursuing Employee Retention Credit Claims. Are You at Risk?

Congress enacted the Employee Retention Credit (“ERC”) during the COVID-19 pandemic to help employers retain their workforce and stay current on payroll despite economic difficulties that plagued the world. The legislation...more

Ballard Spahr LLP

Selected Business Provisions of the Proposed Tax Relief for American Families and Workers Act of 2024

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On January 31, 2024, the United States House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 (TRAFW Act), which is now under consideration in the Senate. The TRAFW Act, in addition to...more

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 28 - Under the Microscope: Examining the Future of the ERC

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The House Ways and Means Committee recently advanced a bill that gives businesses a proposed deadline of January 31, 2024 to file Employee Retention Credit (ERC) claims. This comes on the heels of recent announcements by the...more

Saul Ewing LLP

Proposed Changes to the Employee Retention Credit Filing Deadline: H.R. 7024 Would Sunset the ERC on January 31, 2024

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Last week, the House Ways and Means Committee voted to advance the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) to the House floor. As drafted, H.R. 7024 would be funded entirely by limitations on the...more

Stinson LLP

Immediate Deadlines May Loom For Employee Retention Credit Claims

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In late 2023, the Internal Revenue Service (IRS) implemented three important initiatives that will impact employers who have filed, or intend to file, Employee Retention Credit (ERC) refund claims. This alert provides a brief...more

Gray Reed

ERC Voluntary Disclosure: Promoters Targeted and Employers Cautioned

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For some time, the IRS has targeted fraudulent employee retention credit (“ERC”) claims. More recently, on December 21, 2023, the IRS issued guidance on a new voluntary disclosure program (the “ERC-VDP”) that the agency...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

ArentFox Schiff

Because . . . We Said So: Congressional Taxwriters Propose Tax Deal Including Significant Modifications to Employee Retention...

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Yesterday, the chairmen of the Senate Finance Committee and the House Ways and Means Committee introduced The Tax Relief for American Families and Workers Act of 2024 (the Act), which proposes changes to the child tax credit,...more

Winthrop & Weinstine, P.A.

The Employee Retention Tax Credit: IRS Developments and Strategy for Taxpayers

The Employee Retention Tax Credit (“ERTC”), under the CARES Act, is a refundable tax credit filed against a company’s payroll taxes. The ERTC was enacted to incentivize employers to maintain their employee base during the...more

Roetzel & Andress

Employee Retention Tax Credit: Post COVID Updates for Healthcare Practices

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Joining host Ericka Adler on the #HealthLawHotSpot this week is fellow Roetzel shareholder and leader of the tax practice group, attorney Donna Hartl. Donna provides insight on how and why the Employee Retention Tax Credit...more

Gray Reed

ERC Claims on Hold While IRS Figures Out What it Thinks is Real

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The IRS recently issued a press release regarding its “continuous efforts to combat dubious Employee Retention Credit (ERC) claims” to announce an initial round of over 20,000 notification letters of disallowed ERC claims....more

Tucker Arensberg, P.C.

Review of Employee Retention Tax Credit (ERTC) Claim

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During the COVID quarantine, congress enacted the Employee Retention Tax Credit (“ERTC”). The purpose of the credit was to provide funds for employers whose business activity was reduced or shut down because of COVID....more

DarrowEverett LLP

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

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The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

ArentFox Schiff

Everybody’s Got Something to Hide Except Me and My Monkey: IRS Issues Moratorium on Processing New Employee Retention Credit...

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The IRS has announced an immediate moratorium on the processing of new employee retention credit claims and warns taxpayers of aggressive promoters and marketers “hustling to get a hefty contingency fee.” On September 14,...more

Dickinson Wright

IRS Orders Immediate Stop to New Employee Retention Credit Claims and Announces Future Settlement Program

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The Employee Retention Tax Credit (“ERC”), enacted as a part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), is a fully refundable tax credit for employers, which is up to $26,000 per eligible...more

Woods Rogers

IRS Imposes Moratorium on Employee Retention Credit

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Just a month after the Internal Revenue Service (IRS) released guidance on how federal credit unions may claim the employee retention credit (ERC), the agency issued a moratorium on processing new claims for the credit. The...more

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