Employee Retention Credit – Voluntary Disclosure Program FLEXCAST

Overview

The Employee Retention Credit (ERC) has become 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 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

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.