The Internal Revenue Service (IRS) has been straightforward that receiving funds from the Employee Retention Credit (ERC) would take time, estimating a standard processing goal of 180 days and longer if a claim required additional review. Unfortunately, for many...
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Steven Goldburd and Benjamin A Goldburd
Since 1983, our tax firm has skillfully represented individuals and corporations across the United States and around the globe from our offices in New York, New Jersey, California and Florida.
Employee Retention Tax Credit (ERTC/ERC)
The ERC in 2024: What Employers Need to Know
No one wants an IRS audit letter to arrive at their door, and lately, many SMBs are facing them. The era of the ERC is far from over, and long from solid – Here’s what business owners should know.
IRS update on ERC claims: Agency will deny thousands and may pursue charges against small business owners
The Internal Revenue Service (IRS) has made it clear that it is coming after anyone that took advantage of the Employee Retention Credit (ERC) during and after the COVID-19 pandemic. Although their goal is noble — to make sure tax cheats are not bilking the system —...
What do I do if I got an ERC disallowance letter from the IRS?
It seems that the mail these days holds two things: bills and marketing materials. For the truly unlucky, the mail may also contain a letter from the Internal Revenue Service (IRS). Although it may be tempting to ignore the letter or pretend it does not exist, a...
IRS takes aggressive approach during ERC audits: 3 things to know
The Internal Revenue Service (IRS) has made it clear that it will aggressively pursue those it claims “erroneously” attempt to take advantage of the Employee Retention Credit (ERC). As of March 15, the agency reported over 22,000 improper claims. #1: What is the ERC?...