Employee Retention Credit (ERC) Update – Voluntary Disclosure Program Reopened, IRS Special Withdrawal Program Restarts for a Limited Time, and Agency Continues Compliance Work

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At a glance The full story: On August 15, 2024, the IRS announced additional updates to the Employee Retention Credit (ERC) program, including a limited reopening of the Voluntary Disclosure Program (VDP) and the continued commitment to identify and act upon claims they believe were improperly filed or for businesses that were ineligible to claim the credit.  …

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Employee Retention Credits in M&A Transactions

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At a glance Are you ready to learn more? Schedule a conversation with our team. The full story: ERCs may have started as a helpful tool for businesses suffering from the COVID-19 pandemic, but they didn’t stay that way for long. Now, just three years later, ERCs have earned a place on the IRS’s “Dirty…

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Up to $26K Per Employee! What’s the Catch with the ERC?

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At a glance The full story: In the mail. On the radio. In your Facebook feed. Ads for the employee retention credit (ERC) are everywhere. Perhaps you’ve had the same thought that I have when reading or listening to these urgent prompts to get your ERC credit now – the IRS wants to give me…

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Maximizing Your R&D Credit as an ERC Recovery Startup Business

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At a glance The full story: The 2021 American Rescue Plan Act extended the Employee Retention Credit (ERC) to a new category of eligible employers, dubbed “Recovery Startup Businesses.” The qualifications for Recovery Startup Businesses were broader than previous ERC eligibility requirements, including any company that began carrying on a trade or business after February…

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Three Ways a Change in Ownership can Impact ERC Value

At a glance The main takeaway: Companies involved in an acquisition or disposition during 2020 or 2021 have additional considerations for determining eligibility. Impact on your business: Any acquisition could impact your gross receipts analysis and your eligibility for the ERC. Next steps: Contact Aprio to assess your ERC eligibility and understand the impact any…

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The Next Hurdle in your ERC Claim: Financial Reporting

At a glance: The main takeaway: Industry experts have recommended using the loss recovery model in response to widespread confusion about reporting the ERC in financial statements. Impact on your business: The loss recovery model means you can report ERC claims sooner and avoids any need to amend previous financial statements, but you must be certain in…

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Will Your ERC Hold Up to an Audit?

At a glance: Contact Aprio today and learn how more about how our ERC team calculates and documents your credits all at once. The full story: Claiming the Employee Retention Credit (ERC) involves far more than just crunching numbers. Employers must navigate a complex web of qualification guidelines – such as qualified wages, employer size status, partial suspension, more than…

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Get Your Top ERC Tax Questions Answered

At a glance Schedule a consultation with our ERC team today The full story: The Employee Retention Credit (ERC) has been a much-needed cash resource for businesses struggling under the weight of the COVID-19 pandemic. But for many businesses one question lingers “Is the Employee Retention Credit taxable?” — especially since the IRS has released…

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Do Owners’ Wages Qualify for the ERC?

At a glance: Don’t let recent IRS guidance jeopardize your credits. Contact Aprio’s ERC team to maximize your credit value and minimize audit risk. With Aprio, you can put those worries about ERC owner wages to rest. The full story: The IRS finally released official guidance on the eligibility of wages paid to business owners and…

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