In the wake of the IRS’s recent announcements regarding the Employee Retention Credit (ERC) Withdrawal and Voluntary Disclosure Programs, many businesses are grappling with the complexities of assessing the legitimacy of their ERC claims.

The withdrawal program is for claims that have not yet been paid, and the voluntary disclosure program allows credit recipients to repay only 80% of their credits to the IRS. There is currently no deadline to withdraw a pending claim, but once it is paid, a decision has to be made whether to keep or return the payment. The clock is ticking toward the March 22, 2024, application deadline to make a voluntary disclosure. In short, the need for clear guidance has never been more urgent or critical.

At Marcum, we understand the challenges you’re facing. The delay in processing claims, the daunting procedure to pull claims, and the anxiety of potential penalties are real concerns for businesses like yours.

Strategically Resolving Your ERC Challenges

  • Are you worried about the legitimacy of your ERC claim?
  • Did you work with promoters who aggressively marketed the ERC to you?
  • Has your claim not yet been granted, but you are concerned that it should be withdrawn?
  • Are you concerned about the consequences of erroneously granted ERC claims?
  • Do you need to understand the intricacies of the Voluntary Disclosure Program?

If these questions resonate with you, our new service is designed to provide the answers and assistance you need.

Time is of the Essence

Remember, the Voluntary Disclosure Program deadline is March 22, 2024. Contact Marcum today to learn how we can help you take advantage of the IRS’s Voluntary Disclosure Program, avoid penalties, and ensure your business remains on solid ground.

Connect with Marcum

Contact us for a consultation and let our team provide the support you need during this critical time.

At Marcum, your business’s integrity and sustainability are our top priorities. Trust us to guide you through this complex situation with clarity and confidence.

Marcum Year-End Tax Guide

Tax Planning for 2023 and 2024

Contacts

William  Kuhlman

William Kuhlman

R&D Tax Credits Leader

  • Tax & Business
  • Philadelphia, PA
Peter  Downing

Peter Downing

National Principal-in-Charge
Tax Credits and Incentives

  • Tax & Business
  • Costa Mesa, CA
John  Eckweiler

John Eckweiler

Partner

  • Tax & Business
  • Costa Mesa, CA
Barry  Fischman

Barry Fischman

Partner

  • Tax & Business
  • New Haven, CT
Aaron  Fox

Aaron Fox

Partner

  • Tax & Business
  • Washington, DC
Diane  Giordano

Diane Giordano

Partner

  • Tax & Business
  • Melville, NY
James  Lundy

James Lundy

Partner

  • Tax & Business
  • Nashville, TN
Gary  Rose

Gary Rose

Partner-in-Charge, Healthcare Tax Services

  • Tax & Business
  • Deerfield, IL
Jill  Scher

Jill Scher

Partner

  • Tax & Business
  • Melville, NY
Jeffrey  Winkleman

Jeffrey Winkleman

Partner-in-Charge, Corporate Taxation

  • Tax & Business
  • Philadelphia, PA