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IRS Launches Voluntary Disclosure Program to Address Questionable Employee Retention Credits by SANDRA R. BROWN, ROBERT HORWITZ and LUKE RYAN

On December 21, 2023, as part of its ongoing effort to address and combat dubious claims for the Employee Retention Credit (ERC), the IRS unveiled a new Voluntary Disclosure Program aimed at helping businesses rectify errors in previously submitted ERC filings. The new initiative comes in response to growing concerns about the legitimacy of certain claims by employers and aggressive marketing tactics by ERC promoters who misled their customers about the credit. The program is intended to address a taxpayer’s civil liability. Therefore, at this time, it appears that a participant still could face criminal prosecution for a fraudulent ERC claim. Applications under the Voluntary Disclosure Program are due by March 22, 2024.

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