New ERC Voluntary Disclosure Program with Discounted Rates

Tax Tipsemployee retention credit
Written By Michael Febrey

The new Employee Retention Credit Voluntary Disclosure Program (ERC-VDP) has been released.

IR-2023-247 IRS: New Voluntary Disclosure Program lets employers who received questionable Employee Retention Credits pay them back at a discounted rate.

Briefly, the program allows taxpayers to repay without interest only 80% of the ineligible ERC received as a refund or return credit.  The ERC-VDP is open through March 22, 2024.

Get more information is on IRS.gov at Employee Retention Credit – Voluntary Disclosure Program | Internal Revenue Service (irs.gov).

Contact me if you have questions about the program.

Michael Febrey
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