On November 3, 2023, Michele Weiss, principal at Holtz, Slavett & Drabkin, APLC, will present on a panel entitled “Keeping up with the Credits:  Employee Retention Credit.”  The panel will present at the California Lawyers Association Annual Meeting of the Tax Bar and Tax Policy Conference in Rancho Mirage, CA.

The Employee Retention Credit (“ERC”) was promulgated as part of the CARES act to help employers during the COVID pandemic.  The ERC is available to “eligible” employers for all quarters of 2020 and the first 3 quarters of 2021.  The ERC provides for a tax credit of up to $26,000 per employee for the ERC Period.

There has been much abuse of the ERC.  Overly aggressive promoters and “credit mills” have lured taxpayers into claiming overinflated credits.  The IRS has been trying to crack down on fraud and abuse of the ERC.

Michele Weiss, together with Sally Reddy of Dallo Law Group, and Laurie Downs, Senior Counsel on the IRS National Fraud Counsel Team, will present on the ERC and what taxpayers can do if they have been caught up in submitting an erroneous ERC claim.