Taxpayers that have willfully failed to comply with tax or tax-related obligations may be able to resolve their non-compliance and limit their exposure to criminal prosecution by filing an application ...
The IRS has announced a voluntary disclosure program for businesses to return money received after filing erroneous Employee Retention Credit (ERC) claims. The program may allow employers to avoid ...
The IRS has unveiled a "voluntary disclosure program" for businesses that claimed a pandemic-era tax credit in error and want to pay the money back. Worth thousands ...
As we discussed in our September 25 alert, Everybody’s Got Something to Hide Except Me and My Monkey: IRS Issues Moratorium on Processing New Employee Retention Credit Claims, the Internal Revenue ...
The Internal Revenue Service (“IRS”) announced in IR News Release 2023-247 (December 21, 2023) its new Voluntary Disclosure Program (“ERC VDP”) that allows employers who may have received questionable ...
On Dec. 21, 2023, the Internal Revenue Service (IRS) launched a new Voluntary Disclosure Program that allows businesses to pay back only a portion of funds in satisfaction of the full amount of credit ...
As previously reported by Miller Canfield, in October 2023 the IRS launched a withdrawal program for Employee Retention Credit (ERC) claims for employers who now doubt the validity of their claim.
The Voluntary Disclosure Program offers eligible taxpayers the opportunity to rectify potential errors in their employee retention credit claims by repaying only 80 percent of the credited amount. All ...
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 ...
What are the risks of an IRS quiet disclosure? Is there a formal IRS process known as a "quiet disclosure," and does the IRS honor this strategy for amended tax returns? There is reason to be ...
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