The employee retention credit (ERC) remains a hot topic as the Internal Revenue Service (IRS) has opened a new window for its voluntary disclosure program, allowing employers to withdraw their claims. While the IRS is processing and paying out refunds for the ERC, it has also introduced new conditions that seem to disqualify certain wages from eligibility. In response, some eligible employers are beginning to take legal action to compel the IRS to address their pending refund claims.

In this episode, Tax Services Partner Brooks Nelson and Tax Director Sarah McGregor are joined by Partner and Tax Credits & Incentives Advisory Practice Leader Martin Karamon. Together, they discuss the complexities of the ERC and the IRS's actions to address both legitimate and dubious claims.

Listen to learn more about:

  • 02:23 – ERC overview
  • 04:34 – IRS moratorium updates
  • 06:32 – IRS timeline for resuming new claims
  • 09:06 – 8/15 ERC voluntary disclosure program 
  • 10:58 – Sources for employer VDP info
  • 12:48 – IRS 12 signs of incorrect ERC claims 
  • 14:56 – ERC claim payment status amid IRS audits
  • 15:58 – Trends in employer lawsuits for refunds

Related Insights

Connect With Us


View All Tax Beat Podcasts

 

Brooks E. Nelson

Tax Services

Partner, Cherry Bekaert Advisory LLC

Sarah McGregor

Tax Services

Director, Cherry Bekaert Advisory LLC

Martin Karamon

Tax Credits & Incentives Advisory Leader

Partner, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 7, 2024

15:03

Speakers: Lauren Stinson

Discover how sales tax automation simplifies compliance, reduces audit risks, and streamlines tax management with solutions like Avalara.

Podcast

October 5, 2024

25:22

Speakers: Jim Holman, Steve Holliday

Listen to our 'Year of Efficiency' podcast to explore how efficiency drives innovation and growth with real-world examples from leading technology companies.

Podcast

September 17, 2024

11:45

Speakers: Christopher J. Truitt, Martin Karamon, William W. Billips, Timothy Doran

Learn how transferable energy tax credits under the Inflation Reduction Act offer private equity funds new tax planning opportunities and innovative deal structuring.