Kaufman Rossin I IRS updates: ERC disclosure and claim withdrawal opportunity and other new compliance initiatives

The IRS has made important announcements regarding improperly claimed Employee Retention Credits (ERC) that taxpayers may wish to withdraw or disclose. Two programs offer an opportunity to do so without penalty. The IRS has also clarified how it will use Inflation Reduction Act funding, including a focus on tax compliance by corporations and high-net-worth individuals. These recent announcements – especially those related to the ERC – may affect a broad range of taxpayers. Read more. Compliments Kaufman Rossin