Tax practitioners and employers should be aware that just last week leaders of the House Ways and Means and Senate Finance Committees announced (link) their bipartisan agreement on proposed legislation (read: not yet a law)...
More Top 10 Tax Lists From the Taxpayer Advocate and David Letterman
January 17, 2024
By Joel N. Crouch, Blog
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...
Mary Wood was quoted in a Tax Notes article published January 17, 2024 written by Lauren Loricchio, titled “Tax Deal Would Bring ERC Claims to Earlier End and Curb Abuses.” Amidst the recent audits and compliance...
Taxpayer Advocate Says the IRS Processing of ERC Claims has Slowed to a Dribble
January 11, 2024
By Joel N. Crouch, Blog
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...
New IRS Voluntary Disclosure for Questionable ERC Refunds Gives Taxpayers 20% “Cut” of the Monies Received
December 22, 2023
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. Interested employers must apply to...