ERTC: Updates on IRS Guidance, Withdrawal, Repayment, & Audits Plus New Claims (Completed)

Date: Friday, May 31, 2024 Instructor: Jane Ryder Begin Time:  11:00am Pacific Time 12:00pm Mountain Time 1:00pm Central Time 2:00pm Eastern Time CPE Credit:  2 hours for CPAs 2 hours Federal Tax Related for OTRPs 2 hours Federal Tax Law for CTEC

NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

This course will provide information on the latest IRS guidance related to ERC refund claims. Review ERC eligibility rules to determine if a taxpayer's ERC claims may be at risk during audit and consider recommended actions to withdraw an ERC claim or repay funds from earlier ERC claims. Plus best practices for reporting ERC refunds received in the current year and amending prior year returns for ERC credits. And lastly, submitting new claims for eligible taxpayers.

Who Should Attend
Tax practitioners who have clients with ERC claims or may be eligible to file a claim

Topics Covered

• Current IRS audit and compliance investigations involving ERC
• IRS's ERC Withdrawal program, to withdraw a claim for ERC refund
• IRS's closed Voluntary Disclosure Program, which permitted favorable repayment of ERC refunds
• Filing amended tax returns for ERC refunds received
• Eligible criteria for a valid ERC claim
• Reporting ERC refunds received correctly

Learning Objectives

• Determine which clients may be facing audit exposure for ERC refunds received
• Explain ERC withdrawal options to clients who may have submitted questionable claims
• Understand best practices for reporting ERC refunds received in 2023 and prior years
• Identify clients who may needed to amend tax returns for ERC refunds received
• Analyze a client's eligibility to submit a claim for 2021 ERC

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

View More Live Webinars