Posts Tagged ‘ERC’
Employee Retention Credit (ERC) Update – Voluntary Disclosure Program Ended, IRS Special Withdrawal Program Continues, and Audit Investigations May Intensify
As part of Aprio’s continuing commitment to providing organizations with updated information related to the Employee Retention Credit (ERC), we wanted to share some recent developments and considerations within the ERC program. ERC Program Status On January 31, 2024, the U.S. House of Representatives passed H.R. 7024 that would: However, at this time, the bill…
Read MoreTax Relief Bill Restoring Domestic Section 174 R&D Expensing Faces Resistance in the Senate
At a glance The full story: The bipartisan tax relief bill (H.R. 7024 – The Tax Relief for American Families and Workers Act of 2024) that the House of Representatives passed on January 31, 2024 is currently stalled in the Senate. The $79 billion tax package, the product of the Democratic Senate Finance Committee Chairman…
Read MoreEmployee Retention Credit (ERC) Update
As part of Aprio’s continuing commitment to providing organizations with updated information related to the Employee Retention Credit (ERC,) we wanted to share some recent developments and leading practices to consider. It is important to note that while the ERC was enacted as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and…
Read MoreHouse Approves Tax Relief Bill, Clearing Path for Senate Action on Section 174 and ERC
At a glance The full story: In a resounding display of bipartisan support, the House voted 357 to 70 on January 31 to pass H.R. 7024, officially titled the Tax Relief for American Families and Workers Act of 2024. This legislative initiative mirrors the bipartisan tax agreement unveiled on January 16 by House Ways and…
Read MoreTax Alert: Potential ERC Impact of H.R. 7024 the Tax Relief for American Families and Workers Act of 2024
At a glance: Do you have ERC questions? Schedule a consultation with our team. The full story: On January 17, 2024, H.R. 7024 the Tax Relief for American Families and Workers Act of 2024, was introduced in the House. The stated goal of the legislation is: To make improvements to the child tax credit, to provide…
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The IRS is Preparing to Audit ERC Claims – Are You Ready?
At a glance Aprio’s experienced ERC team is prepared to help you respond to an IRS audit and defend your ERC claim. Connect with us today to begin preparing your response. The full story In March of 2020, Congress enacted the Coronavirus Aid, Relief and Economic Security (Cares) Act, which, among many relief provisions, created…
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Up to $26K Per Employee! What’s the Catch with the ERC?
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…
Read MorePrivate Equity Firms: Get a Tax Credit Worth up to $19K Per Employee
The ERC is an immediate cash lucrative benefit that can help support portfolio companies of PE firms’ growth goals through 2021 and beyond and is a cash benefit increasing Return on Investment to your owners and shareholders. To find out if you are eligible, watch this short video featuring Aprio experts Michael Levy and John Santamour.…
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