ERC Refund Litigation: The Role of Local Counsel... [ read ]
Given that the IRS Employee Retention Credit ("ERC" or "ERTC") moratorium is still in effect, and ERC claims not subject to the moratorium are being processed slowly, there are possibly many ERC refund lawsuits that may be filed soon. The rules of civil procedure generally provide that cases against the U.S. government can be filed only in the judicial district where the plaintiff resides or where a corporation has its principal place of business. So needless to say, if there are in fact many ERC lawsuits filed, they will likely be filed in many different courts.
The IRS ERC Webinar Has Come and Gone. What Did the IRS Say?... [ read ]
On February 8, 2024, the IRS held a public webinar primarily about the Employee Retention Credit ("ERC" or "ERTC") Voluntary Disclosure Program.
ERTC Clarity Coming This Week? IRS Webinar May Shed Light On IRS Plans... [ read ]
There are still many questions about how the IRS is handling ERTC (also known as "ERC") claims after its moratorium deadline of December 31, 2023 expired. This Thursday, February 8 at 1pm Central Time (2pm Eastern Time), the IRS is hosting a free webinar to provide updates on the ERTC Voluntary Disclosure Program and the moratorium. Tax professionals can earn one continuing education (CE) credit for participation.
What Happens if ERTC Advisors are Treated as "Material Advisors?" A Lot.... [ read ]
As mentioned in an earlier article, there is bipartisan support for pending legislation that, if passed, would upend much of the existing law surrounding the Employee Retention Tax Credit ("ERTC" or "ERC"). I previously wrote about the "listed transaction" provisions of the proposed legislation. There are numerous other ways the IRS is taking enforcement actions surrounding the ERTC. One of those ways is the IRS's expansion of the term "Material Advisors" to specifically include "COVID-ERTC promoters" who provide aid, assistance, or advice with respect to a "COVID-ERTC document."
What Happens If Your ERTC Claim is Treated as a Listed Transaction? It's Complex.... [ read ]
Yesterday, I wrote about some legislative proposals that could cause major changes to existing Employee Retention Tax Credit ("ERTC" or "ERC") laws. One of the provisions in the proposed legislation includes treating certain ERTC claims as "listed transactions."
Employee Retention Tax Credit Laws Could be Getting a Massive Overhaul... [ read ]
Tax practitioners and employers should be aware that just last week leaders of the House Ways and Means and Senate Finance Committees announced their bipartisan agreement on proposed legislation (read: not yet a law) that could have major implications for the Employee Retention Tax Credit ("ERTC" or "ERC").
More Top 10 Tax Lists From the Taxpayer Advocate and David Letterman... [ read ]
About this time last year, I compared the National Taxpayer Advocate's 2022 Top 10 list of most serious problems taxpayers encountered with some of my favorite David Letterman Top 10 lists, see What Do The National Taxpayer Advocate and David Letterman Have In Common?
Taxpayer Advocate Says the IRS Processing of ERC Claims has Slowed to a Dribble... [ read ]
Readers will recall that in response to growing concerns of the IRS, tax professionals and others regarding the number of fraudulent ERC claims, on September 14, 2023 the IRS announced a moratorium on processing ERC claims filed after September 14th until at least December 31, 2023. Although the announcement also said the time to process pending claims would increase from 90 days to 180 days, we all assumed the IRS would continue processing claims filed before September 14, 2023. According to the National Taxpayer Advocate's January 10th Annual Report to Congress, that assumption was incorrect.
New IRS Voluntary Disclosure for Questionable ERC Refunds Gives Taxpayers 20% "Cut" of the Monies Received... [ read ]
Yesterday the IRS launched a new voluntary disclosure program that allows employers who received questionable Employee Retention Credit (ERC) refunds to keep 20% of the monies they received.
Money Well Spent: IRS Expands Online Account Services for Businesses... [ read ]
Yesterday the IRS launched a new tool for businesses that expands online access to certain business tax account information. Available at IRS.gov/businessaccount, the new service is a key part of the agency's continuing service improvement initiative funded by the Inflation Reduction Act.
