IRS Might Reopen ERC Voluntary Disclosure Program in Future

The Internal Revenue Service might reopen its employee retention credit voluntary disclosure program in the future, an agency official said May 2.

The program, which stopped accepting applications after March 22, allows employers that improperly claimed the ERC to voluntarily repay 80% of the amount received. In exchange, they would not be subject to penalties or interest, and the IRS would not investigate their employment tax returns for the tax periods during which the ERC was claimed.

The IRS is in the process of reviewing applications to the program and might reopen the program in a “reduced capacity,” said ...