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Navigating IRS Examination of Employee Retention Credit Claims: Key Issues and Pitfalls to Avoid for Tax Counsel

Recording of a 90-minute premium CLE/CPE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
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Conducted on Tuesday, May 21, 2024

Recorded event now available

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This CLE/CPE webinar will provide tax professionals guidance on handling IRS' ongoing examinations of employee retention credits (ERCs) claimed by businesses. The panelist will discuss and address recent IRS initiatives and key areas of focus, and provide business owners and tax counsel tactics for managing IRS examination of ERC claims.

Description

The IRS will be examining a substantial number of ERC claims. Counsel must be prepared to assist clients who have claimed the ERC credits and prepare for potential audits. The IRS will also be targeting various ERC promoters.

The ERC was implemented to help employers retain and pay employees during the COVID pandemic. However, these credits provided substantial amounts of money to businesses per employee and have been an area of focus for the unwary. There is no doubt that even those businesses with legitimate ERC claims must be prepared for a potential IRS examination.

Tax practitioners working with businesses that have taken advantage of the ERC need to prepare for IRS audits. Also, ERC companies that promoted these transactions will be under investigation.

Listen as the panel discusses and addresses practical tips for handling an ERC examination and other matters regarding withdrawals of ERC claims that have yet not been processed.

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Outline

  1. Overview of ERC.
  2. IRS audits and enforcement actions related to ERC.
  3. Practical considerations in withdrawing an ERC claim.
  4. Practical tips during an ERC audit.

Benefits

Cheryl Frank will cover these and other critical issues:

  • Tools for handling an ERC examination.
  • Separating legitimate and illegitimate ERC claims.
  • IRS key areas of focus in examining ERC claims.
  • What to do should you withdraw your ERC claim.

Faculty

Frank, Cheryl
Cheryl R. Frank

Attorney
Brager Tax Law Group

Ms. Frank is a former Senior Tax Attorney in the Tax Litigation Division of the IRS Office of Chief Counsel in...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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