ERC

December 27, 2023

IRS Updates on the New ERC Voluntary Disclosure Program (VDP)

IRS Updates on the New ERC Voluntary Disclosure Program (VDP) By Ashlee Hall, Esq., Director of Legal Services for Figure Financial, Inc. More information on the new ERC Voluntary Disclosure Program (VDP) and the rights the IRS requires the taxpayer to give up in exchange. Taxpayers should never take the prospect of waiving rights to the government… Continue reading IRS Updates on the New ERC Voluntary Disclosure Program (VDP)

Ensuring Compliance in ERC Claims: The Critical Need for Substantiation

In the realm of Employee Retention Credit (ERC) claims, compliance is not just a legal obligation; it’s a cornerstone of ethical business practice. With the rise in ERC filings, there’s a growing need for businesses to understand the importance of substantiating their claims, especially when suspicions of fraud arise. Understanding ERC Compliance The ERC, designed… Continue reading Ensuring Compliance in ERC Claims: The Critical Need for Substantiation

IRS Updates: IRS Pauses the Processing of New ERC Claims

The IRS released updated guidance on the Employee Retention Credit program on September 14, 2023. The news release below explains that the IRS has placed an immediate moratorium through the end of the year on the processing of new ERC claims in effort to curb fraudulent applications by bad actors. While a moratorium may sound alarming,… Continue reading IRS Updates: IRS Pauses the Processing of New ERC Claims