IRS Launches the Employee Retention Credit Voluntary Disclosure Program

On December 21, 2023, the IRS announced the launch of a new voluntary disclosure program for employers that received an Employee Retention Credit (ERC) but were not actually entitled to the ERC. The ERC is a refundable tax credit for certain employers that had employees that were affected during the COVID-19 pandemic.

Eligibility

To participate the employer must file Form 15434, Application for Employee Retention Credit Voluntary Disclosure Program, by March 22, 2024, and meet the following criteria:

>> Read full blog post and criteria on CTTaxAlert.com