Many organizations have filed for and received an Employee Retention Credit (ERC).  The IRS has determined that questionable ERC claims were filed by ineligible organizations and are offering a voluntary disclosure program through March 22, 2024.

Through the voluntary disclosure program, organizations that were not eligible to receive an ERC payment may repay 80% of their ERC claim without interest or penalties if they also provide the names, addresses, and phone numbers of any advisers or tax preparers who helped with the claim and details about the services provided.

If you have any question or concern regarding the validity of your ERC claim, regardless of who filed the claim on behalf of your organization, CB Tax Accounting Inc is available to help. My accounting firm can review your claim to ensure eligibility, and if necessary, help you file through the voluntary disclosure program.

To begin a conversation regarding your ERC claim, please contact Cecil Buxo, EA, USTCP.  For more information on the ERC voluntary disclosure program please visit https://www.journalofaccountancy.com/news/2023/dec/erc-voluntary-disclosure-program-requiring-80-percent-claim-payback-launched.html.