As part of an ongoing initiative to combat questionable Employee Retention Credit (ERC) claims, the IRS has launched a voluntary disclosure program. It allows eligible businesses to pay back money they received after filing ERC claims in error. The disclosure program runs through March 22, 2024, and allows repayment of 80% of the claim received. It’s part of a larger IRS effort to stop aggressive marketing around the ERC that misled some employers into filing claims. The IRS also has another program that allows employers to withdraw pending ERC claims with no interest or penalty. More than $100 million in withdrawals has already been received. To learn more: https://bit.ly/47nnSTV
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