The IRS has established a program to provide some much-needed relief for taxpayers wishing to withdraw an Employee Retention Credit claim, and employers who filed for the pandemic relief based on questionable advice may want to do just that.
In FS-2023-24 (herein “the Fact Sheet” (Oct. 1, 2023)), the IRS laid out the withdrawal program, after having released IR-2023-169 (Sept. 14, 2023) in which the agency said such program was in the works and no more new ERC claims would be processed. If a claim is successfully withdrawn, it will be treated as if it was never filed in the ...
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