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Two Pivotal IRS Programs Launched to Address Employee Retention Credit (ERC) Issues

In response to the increasing number of potentially ineligible Employee Retention Credit (ERC) claims, the IRS has recently launched two pivotal programs for businesses navigating the complexities of the ERC:

You Can Now Potentially Withdraw Your ERC Claim

Written by Sarah Shirley Earlier this fall, the IRS issued a moratorium on the processing of any new Employee Retention Credit (ERC) claims through at least the end of the

IRS Increases Oversight of ERC Program

Last week, the IRS issued an important news release, IR-2023-135 (click green link to read full release), announcing their heightened scrutiny of claims for the Employee Retention Credit (ERC) with

BMSS’ 2022 Year-End Tax Planning Letter

As 2022 comes to a close, all eyes are on the midterm elections and potential year-end tax legislation and, as always, it is important to stay informed. Year-end tax planning

ERC Sharks Continue to Strike

By Cooper Melvin, J.D., CPA In a news release today, the IRS warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit

Considerations for the Employee Retention Credit

Created and introduced as part of the CARES Act in 2020, the Employee Retention Credit (Credit) was implemented to encourage employers to keep their employees on the payroll during the

Penalty Abatement for ERC-related Tax

By Cooper Melvin, J.D., CPA It is no secret that the IRS is backlogged with Employee Retention Credit (ERC) filings and has yet to issue refunds to many businesses that

Significant Amendment to the Alabama Accountability Act

Written by Steve Smith, JD, CPA On April 14th, Governor Ivey signed Senate Bill 261 (SB261) into law, raising the current cap on contributions under the Alabama Accountability Act (AAA).

The IRS’ Ever-Growing Backlog and Suspension of Selected Automated Notices

By Dalton Bradshaw, CPA In our Beyond the Bottom Line Newsletter on January, 26, 2022, we summarized the annual report of the Taxpayer Advocate Service to Congress. The report noted

IRS “Report Card” Warns of a Challenging 2022 Filing Season for Taxpayers and Tax Professionals

By Steven N. Smith, CPA, JD The 2022 filing season will likely be a frustrating experience for both taxpayers and tax professionals. Individual returns can be submitted to the IRS

Important Information Regarding 2021 Personal Income Tax Returns

IRS Issuing Information Letters to Advance Child Tax Credit Recipients and Recipients of the Third Round of Economic Impact Payments On December 22, 2021, the IRS announced that it will

How to Repay Q4 Employee Retention Credit (ERC)

By Cooper Melvin, JD If you received an advance payment of the employee retention credit for the fourth calendar quarter of 2021, you might have to repay the amount received.

Two Pivotal IRS Programs Launched to Address Employee Retention Credit (ERC) Issues

Two Pivotal IRS Programs Launched to Address Employee Retention Credit (ERC) Issues

You Can Now Potentially Withdraw Your ERC Claim

IRS Increases Oversight of ERC Program

BMSS’ 2022 Year-End Tax Planning Letter

ERC Sharks Continue to Strike

Considerations for the Employee Retention Credit

Penalty Abatement for ERC-related Tax

Significant Amendment to the Alabama Accountability Act

The IRS’ Ever-Growing Backlog and Suspension of Selected Automated Notices

IRS “Report Card” Warns of a Challenging 2022 Filing Season for Taxpayers and Tax Professionals

Important Information Regarding 2021 Personal Income Tax Returns

How to Repay Q4 Employee Retention Credit (ERC)

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