IRS Adds New Website on Voluntary ERC Payback

The IRS has a new website for those farmers and taxpayers who want to take advantage of the voluntary payback of ineligible ERC refunds

Photo by Kelly Sikkema on Unsplash

ERC Voluntary Disclosure Program. On December 21, 2023, the IRS announced a new Voluntary Disclosure Program for businesses who claimed the ERC erroneously. The program is part of the IRS' continuing efforts to combat dubious ERC claims generated by companies that only wanted to generate fees from nonqualified ERC claims.  This special disclosure program allows taxpayers to repay 80% of the claim received. The program runs through March 22, 2024