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Tax Credits Corporate Counsel Employee Retention

Jackson Walker

Employee Retention Credit (ERC) Changes under the One Big Beautiful Bill Act: Some Disallowances, Six-Year Statute of Limitations...

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Many ERC claimants are breathing a sigh of relief given the much toned-down version of the changes to the ERC enacted on July 4, 2025. As enacted, the One Big Beautiful Bill Act (the “OBBBA”) disallows all pending ERC claims...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

Buckingham, Doolittle & Burroughs, LLC

IRS Issues Guidance Simplifying Income Tax Compliance Related to the Employee Retention Credit

The IRS recently released new FAQ guidance providing a simplified procedure for addressing income tax amendments and refund claims related to Employee Retention Credit (ERC) determinations. See IRS FAQs. Taxpayers claiming...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

Herbert Smith Freehills Kramer

IRS Announces a Second Voluntary Disclosure Program for COVID-Era Employee Retention Credit Claims

On Aug. 15, 2024, the IRS announced the much-anticipated reopening of a second Voluntary Disclosure Program (the “Second ERC-VDP”) to help businesses address incorrect Employee Retention Credit (“ERC”) claims as the agency...more

Fox Rothschild LLP

IRS Increases Pressure on Businesses That Claimed Employee Retention Tax Credits

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The Internal Revenue Service (IRS) recently issued a news release identifying five new signs that a business’s Employee Retention Tax Credit (ERC) may be incorrect. It has also begun issuing a third round of letters denying...more

Cole Schotz

Employee Retention Credit Voluntary Disclosure Program to Be Reopened: What You Need to Know

Cole Schotz on

On July 26, 2024, the IRS announced that they are in the final stages of reopening the Employee Retention Credit (ERC) Voluntary Disclosure Program. The ERC is a credit that was available to certain eligible employers...more

Buckingham, Doolittle & Burroughs, LLC

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

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

Fox Rothschild LLP

Employee Retention Tax Credit: Updates From Congress and the IRS

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There are several new developments in the Internal Revenue Service’s ongoing campaign to combat false and fraudulent Employee Retention Credit (ERC) claims, including an indefinite extension of the agency’s moratorium on...more

Bond Schoeneck & King PLLC

IRS Launches Voluntary Disclosure Program Allowing Businesses to Avoid Penalties if They Pay Back a Portion of Incorrectly Claimed...

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 that they received based...more

Dickinson Wright

IRS Issues Alerts and Begins Audit Activity Related to the Employee Retention Tax Credit

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The Employee Retention Tax Credit (“ERC”), enacted as a part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), is a fully refundable tax credit for employers, up to $26,000 per eligible employee. Because...more

Fox Rothschild LLP

IRS Renews Warning on Employee Retention Credit Fraud, DOJ Files First Criminal Charges

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Employers should be careful before claiming the Employee Retention Credit (ERC). Over the past several months, the Internal Revenue Service (IRS) has warned taxpayers twice about third parties who advise employers to claim...more

Holland & Knight LLP

Beware Employee Retention Credits That Are "Too Good to Be True"

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Employers throughout the U.S. have been receiving advertisements and direct solicitations from third parties offering attractive tax savings in the form of Employee Retention Credits (ERC). Oftentimes, these third parties...more

Polsinelli

Employee Retention Tax Credits Update: IRS Warns Taxpayers to Beware

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On October 19, 2022, the Internal Revenue Service (“Service”) issued news release IR-2022-183, which was intended to warn employers using third-party promoters of Employee Retention Tax Credits (“ERTCs”).  ERTCs were created...more

Adams & Reese

More Businesses Now Eligible for Employee Retention Credit (ERC) – Do You Qualify?

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What is the ERC? Congress introduced the Employee Retention Credit (ERC) as part of the CARES Act to encourage businesses to keep employees on their payroll during the pandemic. ...more

Buckingham, Doolittle & Burroughs, LLC

Once-in-a-Lifetime Tax Incentive: Employee Retention Credit extended to Q3 and Q4 2021, and expanded for start-ups and struggling...

On August 4, 2021, the IRS released additional guidance concerning the Employee Retention Credit (ERC) for Q3 and Q4 2021. See IRS Notice 2021-49. A notable expansion to eligible businesses includes any business started after...more

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

American Rescue Plan Act of 2021: Top Employee Benefits and Executive Compensation Provisions

On March 11, 2021, President Joe Biden signed the American Rescue Plan Act of 2021 (ARPA). The ARPA is the latest installment of COVID-19–related stimulus packages passed by Congress in the last 12 months. Similar to the...more

Benesch

Key Provisions for Employers in the American Rescue Plan Act of 2021

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President Joseph R. Biden signed the American Rescue Plan Act of 2021 (“ARP”) on March 11, 2021, which provides $1.9 trillion in relief funds for individuals and businesses in response to the coronavirus pandemic. This...more

Amundsen Davis LLC

The American Rescue Plan Act Of 2021: What’s In It For Employers?

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Almost one year after the enactment of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), and with the second extension of pandemic unemployment assistance about to expire for millions of workers on March...more

Pillsbury Winthrop Shaw Pittman LLP

COVID-19 Relief: Loan Forgiveness Requirements and Loan Review Procedures for Renewed Paycheck Protection Program

On January 19, 2021, the Small Business Administration (SBA) issued a new interim final rule on loan forgiveness and loan review procedures for the Paycheck Protection Program (PPP), as reinitiated by the Economic Aid to...more

Husch Blackwell LLP

Consolidated Appropriations Act: Important Changes To The Employee Retention Credit

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The CARES Act created a refundable “employee retention credit” as incentive for employers to retain their employees during the 2020 pandemic. Specifically, employers received a credit against their share of the Social...more

BakerHostetler

IRS Employee Retention Tax Credit Guidance for Acquisitions of PPP Borrowers

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The IRS recently updated its Employee Retention Tax Credit (ERTC) FAQs, providing additional guidance regarding the effect on ERTC eligibility of mergers and acquisitions involving Paycheck Protection Program (PPP) loan...more

CDF Labor Law LLP

[Webinar] COVID-19 Employment Law Issues Employers Should Know - Potential Litigation, Wage & Hour, Testing, Time Off Work and...

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To assist employers, corporate counsel, and HR professionals that are still grappling with the myriad of COVID-19 issues, CDF has designed a series of complimentary webinars for the week of December 7-11, 2020 from 9-10 am...more

Blank Rome LLP

IRS Reverses Course and Allows Eligible Employers to Count Health Costs for Furloughed Employees in Determining Retention Tax...

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Under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), eligible employers are permitted to claim a retention payroll tax credit if they pay qualified wages after March 12, 2020, and before January 1,...more

Gibney Anthony & Flaherty, LLP

IRS Employee Retention Credit: What Employers Need to Know

The Internal Revenue Service launched the Employee Retention Credit to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose...more

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