Employee Retention Credit Disclosure Deadline Is Firm, IRS Says

Time is running out before a March 22 deadline for businesses to come clean to the IRS if they received an employee retention credit they didn’t qualify for, an agency official said Monday.

Intended to keep struggling businesses’ doors open and their workers on the payroll in the depths of the pandemic, the ERC has been plagued by fraud.

The IRS voluntary disclosure program allows businesses to keep 20% of the money if they provide information on the advisers or tax preparers that assisted them. So far there’s been no decision to extend the deadline for employers to participate in ...