IRS continues work on Employee Retention Credit (ERC); Voluntary Disclosure Program (VDP) and ERC Withdrawal programs are available, Feb. 8 VDP webinar being offered and new IRS CI education sessions coming in February
Internal Revenue Service (IRS) sent this bulletin at 02/06/2024 12:54 PM EST
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News release IR -2024-30: IRS to offer an Employee Retention Credit webinar on Feb. 8; provide updates on Voluntary Disclosure Program, moratorium The IRS continues to increase compliance activity to protect against fraud related to the Employee Retention Credit (ERC) and also renewed calls for employers to review their qualifications for ERC. Programs are available to help affected employers avoid penalties and interest on incorrect claims. IRS Criminal Investigation (CI) special agents will host educational sessions in February. Businesses that meet certain requirements may be able to participate in the IRS Voluntary Disclosure Program. The deadline is March 22, 2024. IRS is having a Free VDP webinar - Thursday, Feb. 8 at 2 p.m. EST. It’s primarily aimed at tax professionals, however; the webinar may also be useful to others interested in this topic. Those who want to attend need to register for it. For those with unprocessed claims, the IRS continues to accept and process requests to withdraw an employer's full ERC claim under the withdrawal process. CI special agents are hosting a series of educational sessions geared specifically to tax professionals about ERC at its field offices across the country. These events will take place in at least 23 U.S. states and the District of Columbia and are specifically designed for tax professionals who have claimed ERCs for their clients on previous years’ tax returns. Invitations to attend will arrive by mail through the U.S. Postal Service. Related news releases: If you have a technical or procedural question relating to government entities, please visit IRS.gov/fslg. For employment tax and account related questions, call the Business and Specialty Tax Line at 800-829-4933. For guidance on the technical aspects for filing information returns through the Filing Information Return Electronically (FIRE) System call Technical Services Operation at 866-455-7438. |
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