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Today's Popular Updates › Employee Retention › CARES Act

A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +
A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous thirty days. less -
Fox Rothschild LLP

The One Big Beautiful Bill Act Changes Employee Retention Tax Credit Program

Fox Rothschild LLP on

While the One Big Beautiful Bill Act made headlines for tax and spending cuts, it also contains significant changes to the federal government’s treatment of COVID era Employee Retention Tax Credit (ERC) claims — many of which...more

Husch Blackwell LLP

IRS Introduces Second Opportunity for ERC Claimants to Correct Errors

Husch Blackwell LLP on

On August 15, 2024, the Internal Revenue Service (IRS) launched a second Employee Retention Credit (ERC) Voluntary Disclosure Program for employers to correct any mistakes related to their ERC claims. The ERC, introduced by...more

Fox Rothschild LLP

The IRS has started its own Employee Retention Credit Olympics

Fox Rothschild LLP on

Coinciding with the opening day of the Olympic games, the IRS issued IR-2024-198, again stating that it will deny tens of thousands of ERC claims that, according to the IRS at least “show clear signs of being erroneous,”...more

Herbert Smith Freehills Kramer

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

Herbert Smith Freehills Kramer on

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

Stinson LLP

Immediate Deadlines May Loom For Employee Retention Credit Claims

Stinson LLP on

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

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

Buckingham, Doolittle & Burroughs, LLC on

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

Miller & Martin PLLC

IRS Announces Voluntary Disclosure Program for Employee Retention Credit Claims

Miller & Martin PLLC on

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 during 2020 and 2021....more

Lippes Mathias LLP

IRS Halts Processing of ERC Claims Citing Extensive Fraud and Abuse

Lippes Mathias LLP on

In an extraordinary development, the IRS has halted its processing of Employee Retention Credit (“ERC”) refund claims as it struggles to keep up with the massive number of claims filed within the last several months. The...more

Jackson Walker

What the IRS is Saying Lately about the Employee Retention Tax Credit

Jackson Walker on

The employee retention tax credit (“ERTC”) has garnered a lot of “buzz” lately – both from the IRS and businesses who have either received the credit or are seeking the credit. The buzz is well deserved, as the IRS has...more

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

DarrowEverett LLP on

The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more

Husch Blackwell LLP

New Federal Infrastructure Legislation Eliminates Employee Retention Credit

Husch Blackwell LLP on

On Monday, November 15, President Joseph Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (the Infrastructure Act). Although the legislation contains only a few tax provisions, one surprising change is...more

Gould + Ratner LLP

IRS Issues Additional Guidance for Claiming the Employee Retention Tax Credit

Gould + Ratner LLP on

Last week, the IRS issued additional guidance on the employee retention tax credit, including information regarding the expansion of the credit to certain wages paid during the third and fourth calendar quarters of 2021 and...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses - May 2021

Lowenstein Sandler LLP on

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Troutman Pepper Locke

Additional Relief Under the Paycheck Protection Program is on Its Way

Troutman Pepper Locke on

On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021, which included the Economic Aid to Hard-Hit Small Businesses, Non-profits, and Venues Act (the Act), the COVID-Related Tax Relief...more

Robins Kaplan LLP

COVID-19 Relief Bill Provides Funding to Small Businesses and Individuals

Robins Kaplan LLP on

On Monday, December 21, 2020, Congress passed a $900 billion COVID-19 relief bill known as the Coronavirus Response and Relief Supplemental Appropriations Act (the “Bill”) after months of intense negotiations. The 5,593-page...more

Katten Muchin Rosenman LLP

2020 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on

In 2020, COVID-19, the US presidential election, the Tax Cuts and Jobs Act (the TCJA), and the Coronavirus Aid, Relief and Economic Security Act (the CARES ACT) dominated the planning landscape....more

Proskauer - Tax Talks

Coronavirus: Comparing the Tax Proposals in the HEALS and HEROES Acts

Proskauer - Tax Talks on

On July 27, 2020, Senate Republicans introduced a series of bills and proposals that have been collectively referred to as the “Health, Economic Assistance, Liability Protection and Schools Act” (the “HEALS Act”). The HEALS...more

Baker Donelson

Navigating PPP, Employer Tax Deferral, and Tax Credits Under the FFCRA and CARES Act

Baker Donelson on

The President, Congress, the Treasury Department, the SBA and the IRS have been busy enacting and interpreting legislation intended to provide assistance to employers during the coronavirus pandemic, including the...more

Snell & Wilmer

IRS Issues Revised Guidance on Employee Retention Credits and Qualified Health Plan Expenses, Offering Relief for Employers that...

Snell & Wilmer on

The Coronavirus Aid, Relief and Economic Security Act ("CARES Act") provides for an employee retention credit (“ERC”) designed to encourage employers to retain workers during the COVID-19 crisis. The Internal Revenue Service...more

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

IRS Updates FAQs on Employee Retention Credit Under the CARES Act

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

On April 29, 2020, the Internal Revenue Service (IRS) provided additional guidance on the employee retention credit (ERC) available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act via new frequently asked...more

White & Case LLP

US IRS Provides Guidance Regarding Employee Retention Tax Credit Under the CARES Act

White & Case LLP on

Pursuant to the federal Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"), enacted on March 27, 2020, eligible employers are granted an employee retention tax credit against applicable employment taxes (the...more

Farrell Fritz, P.C.

New Employee Retention Credit Helps Employers Keep Employees on Payroll

Farrell Fritz, P.C. on

May 08, 2020 The IRS released criteria for claiming the employee retention credit put forth in a fact sheet. The credit applies to eligible wages paid after March 12, 2020, and before January 1, 2021....more

Rosenberg Martin Greenberg LLP

Considering Returning Funds from the Paycheck Protection Program? Here's What You Need to Know.

Rosenberg Martin Greenberg LLP on

For those seeking to return funds from the Paycheck Protection Program (“the PPP”) pursuant to the safe harbor, the deadline is fast approaching: May 14, 2020.  While this issue continues to generate publicity, the fear being...more

Maynard Nexsen

Continuing COVID-19 Impacts on Federal Taxation - UPDATED

Maynard Nexsen on

This is an update to an article originally released on March 31, 2020. The updates account for most of the administrative guidance released by the IRS and the descriptions in the JCT’s Bluebook. After some tense...more

Fox Rothschild LLP

IRS Expands FAQs On CARES Act Employee Retention Credit

Fox Rothschild LLP on

Providing extensive guidance on the Employee Retention Credit, the IRS has posted 94 updated FAQs that explains this important provision in the CARES Act (the Coronavirus Aid, Relief, and Economic Security or CARES Act)...more

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