Did you file an Employee Retention Credit (ERC) claim in error? Mistakes happen. That’s why the IRS recently introduced a new Voluntary Disclosure Program aimed at helping businesses rectify erroneous claims and repay the funds. The program is open through March 22, 2024, allowing employers to reimburse the IRS for 80% of the claim they […]
Archives for February 2024
New BOI Reporting Requirements — Is Your Business Compliant?
Beginning this year, your small business may be one of millions dealing with additional reporting requirements. Yes, you heard that right. Many LLCs, S-corps and C-corps will have new reporting requirements under the Corporate Transparency Act (CTA). In a nutshell, this mandate is intended to help mitigate money laundering by requiring certain businesses’ “beneficial owners” […]