Archive for December, 2023

IRS announces details for ERC Voluntary Disclosure program

IRS provides VD Program for employers to return ERC refunds and avoid penalties and interest. Employers must apply by March 22, 2024.

IRS to provide automatic penalty relief to eligible taxpayers

The IRS announced plans to provide automatic penalty relief for failure to pay penalties incurred in tax years 2020 and 2021 on income tax obligations. Eligible taxpayers include individuals, businesses, trusts, estates and tax-exempt organizations that meet certain qualifying criteria.