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Voluntary Disclosure Program for Employee Retention Credit Claims Returns

  • ERC

The Internal Revenue Service (IRS) recently announced another round of its Voluntary Disclosure Program (VDP) for Employee Retention Credit (ERC) claims. VDP allows taxpayers with doubts about their ERC filing to voluntarily remit their refund, without penalties or interest, while retaining 15% of their credit.

Failure of Tax Bill Could Hurt Small Business R&D

The Senate’s failure to pass a $78 billion bill that included tax breaks for businesses and low-income families could have dire effects for small business research and development, Accounting Today reported.