Employee Retention Credit (ERC) Updates September 2023

calendar iconSeptember 29, 2023

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The Employee Retention Credit (ERC) was created to reward companies that continued paying employees when operations were negatively impacted by the COVID-19 pandemic. It is a proven program that helps companies recover from the negative impacts of the pandemic on their business, even when ERC refund claims are filed today.

The Internal Revenue Service (IRS) released new guidance for how employers may or may not have been impacted by supply chain disruptions during the pandemic. When filing ERC claims, it is important that qualifying employers understand how government mandates restricted commerce, meetings and travel. Most recently, due to a flood of what may be inappropriate or even false ERC claim filings, the IRS announced a temporary moratorium on processing new ERC claims.

Brooks Nelson, Partner and Strategic Tax Leader, and Sarah McGregor, Tax Director, talk with Martin Karamon, Partner and Tax Credits and Incentives Advisory Leader, about new IRS guidance, the moratorium on processing claims and other updates, with a focus on issues and opportunities for employers that do qualify for the credit.

Listen to learn more about:

  • 02:54 – IRS moratorium on processing new ERC claims
  • 05:12 – ERC background
  • 07:30 – IRS guidance on supply chain disruptions
  • 09:13 – Common ERC disqualifications
  • 15:59 – Final regulations on recapturing erroneous ERC claims

Related Guidance

IRS Temporarily Suspends ERC Claims: What You Need to Know
August ERC Update: New IRS Guidance
ERC Success Story: Auto Dealerships Save Millions
Science of Savings – Research & Development Tax Credits and ERC
IRS Update on ERC Eligibility: 5 Scenarios That Do Not Qualify as Supply Chain Disruptions
ERC Audits: How to Prepare

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