News & Analysis as of

Internal Revenue Service New Guidance Employee Retention

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Buckingham, Doolittle & Burroughs, LLC

IRS Issues Guidance Simplifying Income Tax Compliance Related to the Employee Retention Credit

The IRS recently released new FAQ guidance providing a simplified procedure for addressing income tax amendments and refund claims related to Employee Retention Credit (ERC) determinations. See IRS FAQs. Taxpayers claiming...more

Ballard Spahr LLP

IRS Changes Course on Income Tax Impact of Employee Retention Credit

Ballard Spahr LLP on

On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income...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

Steptoe & Johnson PLLC

Withdrawing Employee Retention Credit Claims

Steptoe & Johnson PLLC on

IRS Updates - Because of promoters aggressively pushing schemes to claim the employee retention credit (ERC) and the resulting confusion surrounding eligibility, the IRS has released guidance for employers wanting to...more

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

IRS Places Moratorium on New Employee Retention Tax Credit Processing

On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge in questionable claim submissions. Claims already...more

Harris Beach Murtha PLLC

IRS Issues Employee Retention Credit Guidance for Third and Fourth Quarters of 2021

The employee retention credit (“ERC”) was enacted as part of the CARES Act to provide a refundable payroll credit for eligible  employers, including tax-exempt organizations, whose businesses have been negatively affected by...more

Buckingham, Doolittle & Burroughs, LLC

Once-in-a-Lifetime Tax Incentive: Employee Retention Credit extended to Q3 and Q4 2021, and expanded for start-ups and struggling...

On August 4, 2021, the IRS released additional guidance concerning the Employee Retention Credit (ERC) for Q3 and Q4 2021. See IRS Notice 2021-49. A notable expansion to eligible businesses includes any business started after...more

Gould + Ratner LLP

IRS Issues Additional Guidance for Claiming the Employee Retention Tax Credit

Gould + Ratner LLP on

Last week, the IRS issued additional guidance on the employee retention tax credit, including information regarding the expansion of the credit to certain wages paid during the third and fourth calendar quarters of 2021 and...more

Gould + Ratner LLP

IRS Issues Guidance for Claiming the Employee Retention Credit for the First Half of 2021

Gould + Ratner LLP on

This week, the IRS issued guidance for employers claiming the employee retention tax credit for the first two quarters of 2021. Background: Changes Under December 2020 Stimulus Plan - Detailed in a previous Gould &...more

White and Williams LLP

IRS Issues Guidance on PPP Loans and the Employee Retention Credit in M&A Transactions

White and Williams LLP on

Dealmakers loathe uncertainty. In addition to the challenges of analyzing impacts of COVID-19 on a business and on closing transactions generally, they must navigate myriad issues arising from use of government stimulus...more

White & Case LLP

US IRS Provides Guidance Regarding Employee Retention Tax Credit Under the CARES Act

White & Case LLP on

Pursuant to the federal Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"), enacted on March 27, 2020, eligible employers are granted an employee retention tax credit against applicable employment taxes (the...more

Lowenstein Sandler LLP

Updates on Tax Deadlines and Key Tax Provisions of the CARES Act

Lowenstein Sandler LLP on

Over recent days, the Internal Revenue Service has extended certain tax filing and payment deadlines and issued guidance on some provisions of the recently-enacted Coronavirus Aid, Relief, and Economic Security Act (the CARES...more

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