Employee Retention Tax Credit (ERTC) and Voluntary Disclosure: What Businesses Should Know

February 2024 During the COVID-19 pandemic, businesses faced immense challenges, leading to the launch of the Employee Retention Tax Credit (ERTC) in 2020. However, the IRS has found that many businesses claiming the credit didn't meet eligibility criteria. To address this, the IRS has introduced a Voluntary Disclosure Program (VDP). Business owners who previously claimed the ERTC should understand the VDP and consider participation accordingly. View the full article here.