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Payroll Taxes › Tax Credits

Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that... more +
Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that are withheld by an employer from an employee's wages and 2) taxes paid by an employer based on the amount of an employee's wages. These taxes may be advanced income tax payments on behalf of an employee. They are also employer and employee payments to a variety of government programs, such as social security, and unemployment/disability insurance. less -
Fox Rothschild LLP

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

Fox Rothschild LLP on

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

Keating Muething & Klekamp PLL

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

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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

Winthrop & Weinstine, P.A.

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

Winthrop & Weinstine, P.A. on

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

Miller & Martin PLLC

IRS Announces Voluntary Disclosure Program for Employee Retention Credit Claims

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The Internal Revenue Service has announced a voluntary disclosure program for employers that may have filed non-qualifying Employee Retention Credit (ERC) claims under the CARES Act for the wages paid during 2020 and 2021....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

Miller Canfield

IRS Announces Denials of Employee Retention Credit

Miller Canfield on

As described in our October 24 article “IRS Offers Forgiveness for Erroneous Employee Retention Credit Claims” the IRS has increased scrutiny on claims for the Employee Retention Credit (“ERC”). The IRS halted processing...more

Ballard Spahr LLP

FinCEN Issues Alert on COVID-19 Employee Retention Tax Credit Fraud

Ballard Spahr LLP on

On November 22, 2023, the Financial Crimes Enforcement Network (“FinCEN”), in close coordination with the Internal Revenue Service (“IRS”) Criminal Investigation (“CI”), issued an alert (“Alert”) regarding the COVID-19...more

Tucker Arensberg, P.C.

Review of Employee Retention Tax Credit (ERTC) Claim

Tucker Arensberg, P.C. on

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

McDermott Will & Emery

Employers Be Forewarned and Forearmed: Recent IRS Announcements Require Action on ERTC Claims

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Promoters and tax advisors have extensively marketed the Employee Retention Tax Credit (ERTC) as a way for employers to reclaim Federal Insurance Contributions Act (FICA) payroll taxes paid during the first two years of the...more

Lippes Mathias LLP

IRS Halts Processing of ERC Claims Citing Extensive Fraud and Abuse

Lippes Mathias LLP on

In an extraordinary development, the IRS has halted its processing of Employee Retention Credit (“ERC”) refund claims as it struggles to keep up with the massive number of claims filed within the last several months. The...more

Lippes Mathias LLP

Employee Retention Credit (ERC) – Proceed with Caution!

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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

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

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The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more

Burns & Levinson LLP

Client Advisory: Employee Retention Tax Credit and More on the IRS Fraud Alert

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Federal legislation relating to the employee retention tax credit (“ERTC”), passed to alleviate the financial burdens of businesses shut down due to governmental orders during COVID, is discussed in a prior Client Advisory....more

Burns & Levinson LLP

Client Advisory: Employee Retention Tax Credit in 2023

Burns & Levinson LLP on

During the COVID-19 emergency, the federal government offered much-needed liquidity to qualifying businesses and nonprofits through loans and payroll tax credits. Qualified employers have been allowed credits against certain...more

Foley & Lardner LLP

Cos. Should Heed IRS Warnings About Employee Tax Credit

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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

Adams and Reese LLP

More Businesses Now Eligible for Employee Retention Credit (ERC) – Do You Qualify?

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What is the ERC? Congress introduced the Employee Retention Credit (ERC) as part of the CARES Act to encourage businesses to keep employees on their payroll during the pandemic. ...more

Venable LLP

Nonprofits Affected by COVID-19 in 2020 or 2021 Can Still Claim Tax Credits

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While many nonprofits have already taken advantage of the opportunities available to them under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and subsequent COVID-19 relief legislation, there are still...more

Venable LLP

Employee Retention Credit for Independent Schools

Venable LLP on

Under the CARES Act and subsequent COVID-19 legislation, independent schools may be eligible for the Employee Retention Credit (ERC), a refundable payroll tax credit for employers, including independent schools, whose...more

Nutter McClennen & Fish LLP

Employee Retention Tax Credits: Additional Guidance for Economically Challenged Businesses

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The IRS issued Notice 2021-49 (the “Notice”) on August 4, 2021 to provide additional guidance on the Employee Retention Tax Credit (“ERTC”) applicable to the third and fourth quarters of 2021....more

Eversheds Sutherland (US) LLP

Connecticut proposes digital advertising services tax and employee-elective wage compensation tax on employers

Eversheds Sutherland (US) LLP on

On April 14, 2021, the Connecticut General Assembly’s Joint Committee on Finance Revenue and Bonding introduced SB1106. The bill would establish the “Connecticut Equitable Investment Fund,” which would be funded by, among...more

Constangy, Brooks, Smith & Prophete, LLP

American Rescue Plan Act -- COBRA Strikes

Constangy, Brooks, Smith & Prophete, LLP on

Now you know. The American Rescue Plan Act has made some important changes to the obligations of employer-sponsored health plans under the Consolidated Omnibus Budget Reconciliation Act, better known as COBRA...more

Bressler, Amery & Ross, P.C.

COBRA Subsidy to Ease Pandemic Impact But Consider the Cost to Employers

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THE COBRA SUBSIDY - On March 11, President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law. Among other provisions, ARPA provides for a 100 percent COBRA subsidy for up to 6 months for anyone who lost health...more

Patterson Belknap Webb & Tyler LLP

Employee Retention Credit Further Expanded by the American Rescue Plan Act

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Eligible employers that have not claimed the employee retention credit could be leaving tens of thousands of dollars of tax benefits on the table. The stakes are even higher under the recently enacted American Rescue Plan...more

Husch Blackwell LLP

Funny You Should Ask: FAQs Regarding Paid Leave Under The American Rescue Plan Act

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As previously discussed, the American Rescue Plan Act was passed and signed into law by President Biden on March 11, 2021. The Act extends and expands payroll tax credits until September 30, 2021, for employers who...more

Nutter McClennen & Fish LLP

Employee Retention Tax Credits: Another Potential Benefit for Economically Challenged Businesses

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After the passage of the CARES Act last year, the clear focus of small businesses was on the Paycheck Protection Program (the “PPP”). A slightly less reported feature was the tax credit available for the retention of...more

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