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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...
On December 21, 2023, the IRS announced the Voluntary Disclosure Program, its latest step to protect the integrity of ERC and safeguard the funds allocated for economic relief during the pandemic.
Taxpayers who filed for the ERC may face a March 22nd Deadline on applying for the IRS Voluntary Disclosure Program. Taxpayers need to ensure they qualify for the ERC.
This CLE will provide an overview of the Pandemic-Era Employee Retention Tax Credit (ERC). Attendees will gain an understanding of what the ERC is, why it was established as a refundable credit, and issues facing the Internal Revenue Service (IRS) and businesses that have claimed and continue to claim the ERC.
Here’s one of the most frequent questions people ask me about Foreign Bank Account Reports (FBARs).‘‘I recently learned about the need to file an FBAR for overseas accounts with over $10,000. I am eligible but I haven’t filed because I was unaware of this requirement. Can ignorance be a valid