Employee Retention Credit Guidance Coming in Weeks, Werfel Says

The IRS expects to issue guidance in the coming weeks on a settlement program for a pandemic-era credit that’s proved to be rife with fraud and overstated claims, IRS Commissioner Danny Werfel said Thursday.

The agency is planning to issue guidance and procedures on the voluntary settlement program for the employee retention credit in the “ballpark” of the 2023 year end or the beginning of 2024, Werfel told reporters at a conference in Washington, D.C., hosted jointly by the IRS and George Washington University.

The employee retention credit is a refundable credit passed during the height of the pandemic as ...