ERC Eligibility Checklist Archives

Second ERC Voluntary Disclosure Program for Improper Claims is Open Through Nov. 22
Gallery
Second ERC Voluntary Disclosure Program for Improper Claims is Open Through Nov. 22

Compliance, Coronavirus, Corporate Taxes, Employee Retention Payroll Tax Credit, IRS, Planning Strategies, Self-Employed, Small Business, Tax Credits, Tax Tips, Taxes

Second ERC Voluntary Disclosure Program for Improper Claims is Open Through Nov. 22

This article was published by the IRS. The IRS’s second Employee Retention Credit Voluntary Disclosure Program is open and runs through Nov. 22, 2024. This ERC VDP helps businesses repay credits they received after filing ERC claims in error. The program allows businesses to correct improper payments at a 15% discount and avoid potential compliance action [...]

cozbycpa2024-11-20T12:41:00-05:00November 20th, 2024|Categories: Compliance, Coronavirus, Corporate Taxes, Employee Retention Payroll Tax Credit, IRS, Planning Strategies, Self-Employed, Small Business, Tax Credits, Tax Tips, Taxes|Tags: application for employee retention credit voluntary disclosure program, Cozby & Company, CPA Heather Cozby, ERC Eligibility Checklist, Form 15434, how to withdraw a full ERC claim, Plymouth MA accountant, second ERC Voluntary Disclosure Program|

IRS Shares New Warning Signs of Incorrect Claims for Employee Retention Credit

This article was published by the IRS. The IRS recently shared five new warning signs of incorrect claims by businesses for the Employee Retention Credit. The new list comes from common issues the IRS has seen while reviewing and processing ERC claims. Aggressive promoters convinced many businesses to claim this pandemic-era credit when they’re not eligible. [...]

cozbycpa2024-11-13T08:52:42-05:00November 13th, 2024|Categories: Compliance, Corporate Taxes, Employee Retention Payroll Tax Credit, IRS, Self-Employed, Small Business, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, Employee Retention Credit, ERC Eligibility Checklist, new warning signs of incorrect claims for Employee Retention Credit, Paycheck Protection Program loan forgiveness, Plymouth MA tax preparer, second ERC Voluntary Disclosure Program|

New Voluntary Disclosure Program Lets Employers who Received Questionable Employee Retention Credits Pay Them Back at Discounted Rate

This article was published by the IRS. As part of an ongoing initiative aimed at combating dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service has launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error. The new disclosure program, which [...]