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Tag: Employee

Withdrawing an employee retention credit claim: What to know

The Good Brigade | Digitalvision | Getty ImagesMore from Year-End PlanningHere's a look at more coverage on what to do finance-wise as the end of the year approaches:"This is a game-changer," said Eric Hylton, national director of compliance for Alliantgroup, a firm that...

How Innovation Refunds cashed in on the Employee Retention Credit

The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic.The government program, seemingly flush with cash, led to the emergence of an industry of its own, which focused on helping businesses...

IRS rejects 20,000 tax refund claims for employee retention credit

IRS Commissioner Daniel Werfel speaks during an IRS event in McLean, Virginia, on Aug. 2, 2023.Alex Wong | Getty ImagesThe IRS is sending more than 20,000 rejection letters to taxpayers who wrongly claimed a pandemic-era tax break as the agency continues its crackdown...

IRS unveils employee retention credit voluntary disclosure program

IRS Commissioner Daniel Werfel testifies before the House Small Business Committee on July 17, 2013.James Lawler Duggan | ReutersThe IRS has unveiled a "voluntary disclosure program" for businesses that claimed a pandemic-era tax credit in error and want to pay the money back.Worth...