Employee Retention Credit ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $174.00
Non-Member Price $200.00
Overview
The Employee Retention Credit (ERC) was created in the CARES Act with the purpose of providing an incentive to employers who kept their employees on payroll during the COVID-19 pandemic. Through subsequent expansion and extension, the ERC became a lucrative and targeted tax industry micro-niche, replete with bad actors providing misleading and inaccurate information. Excessive numbers of questionable ERC claims led the IRS to stop processing claims, offering a withdrawal mechanism, and eventually the ERC Voluntary Disclosure Program (ERC-VDP). This course discusses the ERC-VDP from top to bottom: announcement, eligibility, participation terms, process, the application, considerations for taxpayers and for tax pros advising clients.
Highlights
ERC Voluntary Disclosure Program (VDP) Eligibility. ERC VDP terms. ERC VDP process. ERC VDP consideration.
Prerequisites
None.
Designed For
CPAs, EAs, CRTPs, and other tax professionals.
Objectives
Identify and briefly review guidance related to the ERC. Review Announcement 2024-3 contents. Review Form 15434, Application for Employee Retention Credit Voluntary Disclosure Program. Learn how to calculate repayment of ERC. Identify considerations for both taxpayers and tax pros.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Mark Seid, Western CPE
Mark F. Seid, EA, CPA has an active tax practice in Paso Robles, California specializing in small businesses and tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.
Non-Member Price $200.00
Member Price $174.00