When:
February 12, 2024 at 1:00pm – 2:00pm EST
Hosted By:
Federal Bar Association
People:
Matthew D. Lee, Brian C. Bernhardt
Location:
Webinar
This CLE will provide an overview of the Pandemic-Era Employee Retention Tax Credit (ERC). Attendees will gain an understanding of what the ERC is, why it was established as a refundable credit, and issues facing the Internal Revenue Service (IRS) and businesses that have claimed and continue to claim the ERC. These issues include: the role of promoters in encouraging businesses to claim the ERC even when the businesses may not qualify, the impact to a business of claiming the ERC when it does not actually qualify for it, and considerations for withdrawing an ERC claim. Discussion will also focus on civil enforcement actions the IRS is taking against businesses that claimed the ERC and promoters that marketed the ERC, as well as criminal investigations the Department of Justice is starting against businesses and individuals involved in fraudulently obtaining the ERC. The CLE will also address opportunities the IRS has provided businesses to avoid enforcement, such as the Withdrawal Program and the Voluntary Disclosure Program, as well as recent and/or potential legislation aimed at decreasing the impact of the ERC.
Topics will include:
The Employee Retention Credit (ERC)
Issues facing taxpayers – the role of promoters, qualification for the ERC, potential civil and criminal enforcement, third-party civil issues
The option to withdraw an ERC claim
The ERC Voluntary Withdrawal Program
Potential legislative changes to the ERC
Panelists:
Matthew D. Lee, Co-Chair of White-Collar Criminal Defense & Regulatory Compliance, Fox Rothschild
Brian C. Bernhardt, Partner, Fox Rothschild
Original source can be found here.