Kostelanetz attorneys will be speaking on various panels at the American Bar Association’s 2024 Criminal Tax Fraud and Tax Controversy Conference, which is being held from Dec. 12-14, 2024, in Las Vegas. Our lawyers will demonstrate their experience and knowhow on topics ranging from defense of high-wealth taxpayers and ethical
Kostelantz Partner, Christopher Ferguson announces last call for the Internal Revenue Service’s Employee Retention Credit (ERC) Voluntary Disclosure Program. The second iteration of the Internal Revenue Service‘s employee retention credit (“ERC”) voluntary disclosure program (the “ERC-VDP”) is set to expire next Friday, November 22, 2024. The first iteration of the program
The Internal Revenue Service announced this week yet another way for taxpayers to address incorrect Employee Retention Credit (ERC) claims. The agency announced it is opening a “supplemental claim process” to help third-party payers (TPPs) and their clients resolve incorrect claims for the ERCs. This means that TPPs, such as
Taxpayers Could Face Penalties, Interest, and Audits If Claims Are Found to Be Erroneous The Internal Revenue Service (IRS) is stepping up its rhetoric regarding potentially fraudulent Employee Retention Credit (ERC) claims, urging businesses to withdraw erroneous claims before the IRS reviews them and issues penalties. Today, the IRS shared
