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Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Faegre Drinker Biddle & Reath LLP

Announcements on Tax Relief Relating to Los Angeles County Wildfires

The Internal Revenue Service (IRS) and the California Franchise Tax Board (FTB) have extended to October 15, 2025, the tax filing and payment deadlines that occurred or will occur from January 7, 2025, through October 14,...more

McDermott Will & Schulte

Weekly IRS Roundup June 24 – June 28, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 24, 2024 – June 28, 2024. ...more

McDermott Will & Schulte

Weekly IRS Roundup March 11 – March 15, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 11, 2024 – March 15, 2024. ...more

McDermott Will & Schulte

Weekly IRS Roundup March 4 – March 8, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 4, 2024 – March 8, 2024. ...more

McDermott Will & Schulte

Weekly IRS Roundup February 12 – February 16, 2024

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

McDermott Will & Schulte

Weekly IRS Roundup January 15 – January 19, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 15, 2024 – January 19, 2024. ...more

Miller Canfield

IRS Announces Denials of Employee Retention Credit

Miller Canfield on

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

McDermott Will & Schulte

Weekly IRS Roundup November 6 – November 10, 2023

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 6, 2023 – November 10, 2023...more

DarrowEverett LLP

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

DarrowEverett LLP on

The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

McDermott Will & Schulte

Weekly IRS Roundup September 21 – September 27, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 21, 2023 – September 27, 2023...more

McDermott Will & Schulte

Weekly IRS Roundup September 4 – September 8, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 4, 2023 – September 8, 2023. ...more

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

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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

McDermott Will & Schulte

Weekly IRS Roundup May 8 – May 12, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 8, 2023 – May 12, 2023...more

Kaufman & Canoles

2022 Premium Tax Credit Chart

Kaufman & Canoles on

John Peterson has created a 2022 Premium Tax Credit Chart, updated for the American Rescue Plan Act. 1. Locate line where estimated 2022 household income & household size intersect 2. First column shows household % of...more

Jaburg Wilk

Tax Relief to Help Weather the Storm of COVID-19

Jaburg Wilk on

As the COVID-19 pandemic has wreaked havoc on our personal, financial and business lives, the government has responded with legislative and administrative relief.  This is a high-level summary of some of the enacted measures...more

McDermott Will & Schulte

Weekly IRS Roundup December 9 – 13, 2019

McDermott Will & Schulte on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 9 – 13, 2019. December 10, 2019: The IRS issued a notice providing that the requirement...more

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