ERC
The federal Employee Retention Credit (ERC) was created by the IRS during the COVID-19 pandemic. It seemed to offer a lifeline to many nonprofits struggling to keep employees on board…
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When the pandemic hit in 2020, the federal government rolled out the Employee Retention Tax Credit (ERTC) under the CARES Act. Federal government officials and lawmakers created the credit to…
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The IRS has unveiled a new opportunity for businesses to correct improper Employee Retention Credit (ERC) claims made for the 2021 tax period. The second Employee Retention Credit Voluntary Disclosure…
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The IRS has introduced the Employee Retention Credit (ERC) Voluntary Disclosure Program through Announcement 2024-3. The purpose is to allow employers to resolve erroneous claims for the ERC, a refundable…
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The Internal Revenue Service (IRS) is stepping up its efforts to combat questionable Employee Retention Credit (ERC) claims. As part of its ongoing efforts, the IRS has announced an initial…
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On September 14, 2023, IRS Commissioner, Danny Werfel, ordered an immediate moratorium on processing new Employee Retention Credit (ERC) claims. The moratorium is expected to last until at least December…
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The Employee Retention Credit (ERC), also known as Employee Retention Tax Credit (ERTC), is a refundable tax credit established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act to…
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Special Projects Manager, Erin E. Kidd, MBA, EA, AFC®, has recently authored an insightful article titled “Be Prepared: Employee Retention Credit Audits Have Begun” in the May/June 2023 issue of…
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Employers that meet the eligibility criteria have until April 15, 2024 to claim up to a $5,000 credit for each eligible employee for 2020, and until April 15, 2025 to…
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With the introduction of the Employee Retention Credit (ERC), also known as Employee Retention Tax Credit (ERTC), the CARES Act created a lifeline for many businesses to weather the storm…
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