News & Analysis as of

Employee Retention Internal Revenue Service Tax Planning

Bricker Graydon LLP

Student Loan Borrowers Need Help - EAPs are a Solution

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Student loan debt can be a major source of employee stress, and some borrowers will feel even more pressure with the recent budget bill’s changes to federal student loan repayment options....more

Lippes Mathias LLP

Where's My Employee Retention Credit?

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In the years since COVID-19 shut down the country, many businesses applied for the Congressionally-authorized Employee Retention Credit (ERC), a valuable relief program created during the pandemic to support businesses who...more

Ballard Spahr LLP

Finally Received the Employee Retention Credit? Now What? A Guide to ERC Income Tax Consequences

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It appears that the flood gates have opened and that the IRS is finally processing and paying claims for the employee retention credit (ERC) en masse. After waiting a very long time (often years) with no contact from the IRS,...more

Ballard Spahr LLP

IRS Changes Course on Income Tax Impact of Employee Retention Credit

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On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income...more

Troutman Pepper Locke

The Demystification of Employee Retention Credits for Private Equity Deals — PE Pathways Podcast

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In this episode of PE Pathways, Thao Le, Jeremy Levy, and Tom Gray discuss the intricacies and implications of employee retention tax credits (ERCs) for private equity and M&A transactions. While ERCs were created in response...more

Roetzel & Andress

Year-End and Trending Tax Considerations for Health Care Practices

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On the HealthLawHotSpot this week, host Ericka Adler sits down with Roetzel attorney Donna Hartl to explore some crucial year-end tax considerations as well as trending tax issues. Donna and Ericka discuss the importance of...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Navigating Employee Retention Credit Denials and Delays

Employee retention credits (ERCs) have been a critical financial lifeline for businesses dealing with the effects of COVID-19. Designed to incentivize businesses to retain employees during the economic downturn caused by...more

Bradley Arant Boult Cummings LLP

How New IRS Actions Affect Your ERC Claim

With the passage of the 2020 CARES Act, Congress created the Employee Retention Credit (ERC) for eligible employers whose operations were impacted by the COVID-19 pandemic. The IRS, however, stopped processing new ERC claims...more

Bond Schoeneck & King PLLC

IRS to Begin Processing Some Employee Retention Tax Credit Claims This Summer

In the wake of the COVID-19 pandemic, Congress passed the Employee Retention Tax Credit (“ERTC”) in an effort to help struggling businesses keep their employees on payroll throughout the pandemic. However, the Internal...more

Herbert Smith Freehills Kramer

IRS Prepares for Next Stage of Combating Fraudulent Pandemic-Related Employee Retention Credits (ERCs)

On June 20, following a long and detailed review process, the IRS announced its plan to deny tens of thousands of highest-risk Employee Retention Credit (ERC) claims while resuming the processing of only the lowest-risk ERC...more

Morris, Manning & Martin, LLP

ERC Voluntary Disclosure Program Deadline is Approaching

OVERVIEW - Thousands of businesses struggling to stay afloat during the COVID-19 pandemic filed employee retention credit (ERC) claims in order to retain workers during a time of economic uncertainty. Initially, the rules and...more

McDermott Will & Emery

Weekly IRS Roundup February 12 – February 16, 2024

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 12, 2024 – February 16, 2024. ...more

Keating Muething & Klekamp PLL

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

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

Ballard Spahr LLP

Selected Business Provisions of the Proposed Tax Relief for American Families and Workers Act of 2024

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On January 31, 2024, the United States House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 (TRAFW Act), which is now under consideration in the Senate. The TRAFW Act, in addition to...more

Stinson LLP

Immediate Deadlines May Loom For Employee Retention Credit Claims

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In late 2023, the Internal Revenue Service (IRS) implemented three important initiatives that will impact employers who have filed, or intend to file, Employee Retention Credit (ERC) refund claims. This alert provides a brief...more

Gray Reed

ERC Voluntary Disclosure: Promoters Targeted and Employers Cautioned

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For some time, the IRS has targeted fraudulent employee retention credit (“ERC”) claims. More recently, on December 21, 2023, the IRS issued guidance on a new voluntary disclosure program (the “ERC-VDP”) that the agency...more

Winthrop & Weinstine, P.A.

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

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

Falcon Rappaport & Berkman LLP

IRS Announces Voluntary Disclosure Program for Employee Retention Credit (ERC)

By: Matthew E. Foreman, Esq., LL.M. and Samuel J. Brady On December 21, 2023, the IRS announced a new Voluntary Disclosure Program (the “Program”), allowing employers (both businesses and not-for-profits) who received the...more

Foster Garvey PC

The IRS’s New Voluntary Disclosure Program: Bringing Cheer to Taxpayers This Holiday Season Rather Than Placing Coal in Their...

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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 Employee Retention...more

Gray Reed

ERC Claims on Hold While IRS Figures Out What it Thinks is Real

Gray Reed on

The IRS recently issued a press release regarding its “continuous efforts to combat dubious Employee Retention Credit (ERC) claims” to announce an initial round of over 20,000 notification letters of disallowed ERC claims....more

Miller Canfield

IRS Announces Denials of Employee Retention Credit

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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

Saul Ewing LLP

Employee Retention Credit Moratorium Update: ERC Withdrawal Process Announced

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On October 19, 2023, the IRS announced a special withdrawal process to help those who filed an Employee Retention Credit (“ERC”) claim and are concerned about its accuracy. This follows the September 14 announcement of a...more

Lowndes

Worried About Your ERC Refund Claim? IRS Announces Process to Withdraw Pending Claims

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If you listen to the TV or radio, you have probably heard advertisements about Employee Retention Credits (ERCs) and how employers may qualify for cash from the government. If you own a business, you have probably been...more

Lowndes

Too Good To Last? IRS Halts Processing of ERC Claims

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While not as well-known as the Paycheck Protection Program, the Employee Retention Credit (“ERC”) program was another form of Covid relief provided by the federal government to businesses in 2020 and 2021. The ERC program...more

Gray Reed

IRS Imposes Immediate Moratorium on Employee Retention Credit (ERC) Claims

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For some time, the IRS has cautioned taxpayers about filing false or fraudulent ERC claims.  More recently, on September 14, 2023, the IRS issued a News Release, IR-2023-169, indicating that it would no longer process ERC...more

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