The Employee Retention Tax Credit: Issues, enforcement, and the voluntary disclosure program

Matthew D. Lee
Matthew D. Lee
Fox Rothschild LLP

Matthew D. Lee is the co-chair of Fox Rothschild’s White-Collar Criminal Defense & Regulatory Compliance practice group. He is a former U.S. Department of Justice trial attorney who concentrates his practice on white collar criminal defense, government investigations, and federal tax controversies.

Brian C. Bernhardt
Brian C. Bernhardt
Fox Rothschild LLP

Brian C. Bernhardt is a Partner at Fox Rothschild LLP and is a member of the firm’s Tax Controversy & Litigation, White-Collar Criminal Defense & Regulatory Compliance, and Appellate practice groups.

On-Demand: February 12, 2024
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1 hour CLE
Tuition: $95.00
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Program Summary

This CLE will provide an overview of the Pandemic-Era Employee Retention Tax Credit (ERC). Attendees will gain an understanding of what the ERC is, why it was established as a refundable credit, and issues facing the Internal Revenue Service (IRS) and businesses that have claimed and continue to claim the ERC. These issues include: the role of promoters in encouraging businesses to claim the ERC even when the businesses may not qualify, the impact to a business of claiming the ERC when it does not actually qualify for it, and considerations for withdrawing an ERC claim. Discussion will also focus on civil enforcement actions the IRS is taking against businesses that claimed the ERC and promoters that marketed the ERC, as well as criminal investigations the Department of Justice is starting against businesses and individuals involved in fraudulently obtaining the ERC. The CLE will also address opportunities the IRS has provided businesses to avoid enforcement, such as the Withdrawal Program and the Voluntary Disclosure Program, as well as recent and/or potential legislation aimed at decreasing the impact of the ERC.

Key topics to be discussed:

  • The Employee Retention Credit (ERC)
  • Issues facing taxpayers – the role of promoters, qualification for the ERC, potential civil and criminal enforcement, third-party civil issues
  • The option to withdraw an ERC claim
  • The ERC Voluntary Withdrawal Program
  • Potential legislative changes to the ERC

Date / Time: February 12, 2024

Closed-captioning available

Speakers

Matthew D. Lee_myLawCLEMatthew D. Lee | Fox Rothschild LLP

Matthew D. Lee is the co-chair of Fox Rothschild’s White-Collar Criminal Defense & Regulatory Compliance practice group. He is a former U.S. Department of Justice trial attorney who concentrates his practice on white collar criminal defense, government investigations, and federal tax controversies. Matt represents companies and individuals in federal criminal investigations involving tax, money laundering, health care, securities, FCPA, public corruption, and fraud offenses, and has significant experience in handling all stages of federal litigation including trials and appeals. He also represents businesses and individuals in proceedings before the Internal Revenue Service, including audits, appeals, and collections, and Tax Court and district court litigation. He also has extensive experience in advising clients on issues regarding foreign bank account reporting (FBAR) obligations, the Foreign Account Tax Compliance Act (FATCA), and the Internal Revenue Service’s Voluntary Disclosure Program. Matt advises clients as to corporate compliance issues involving the Bank Secrecy Act, the USA Patriot Act, FATCA, and anti-money laundering laws and regulations. He is the author of Foreign Account Tax Compliance Act Answer Book (Practicing Law Institute) and publishes a blog entitled Tax Controversy and Financial Crimes Report (https://taxcontroversy.foxrothschild.com).

 

Brian C. Bernhardt_myLawCLEBrian C. Bernhardt | Fox Rothschild LLP

Brian C. Bernhardt is a Partner at Fox Rothschild LLP and is a member of the firm’s Tax Controversy & Litigation, White-Collar Criminal Defense & Regulatory Compliance, and Appellate practice groups. A former trial attorney with the Internal Revenue Service Office of Chief Counsel, Brian has represented clients on tax matters before the IRS, the Department of Justice Tax Division, the U.S. Tax Court, the U.S. Court of Federal Claims, and multiple U.S. District Courts. Brian has also represented clients on matters before the North Carolina Court of Appeals, the North Carolina Supreme Court, and the Fourth Circuit Court of Appeals. Brian represents companies and individuals in civil and criminal tax proceedings before the Internal Revenue Service and Department of Justice, including audits, criminal investigations, appeals, collections, refund claims, and Tax Court and District Court litigation. He also has extensive experience in advising clients on issues regarding foreign bank account reporting (FBAR) obligations, Voluntary Disclosure Programs, conservation easements, penalty assessments, trust fund investigations, tax shelter investigations, and pandemic related audits, investigations, and fraud, including PPP Loans, Economic Injury Disaster Loans, and Employee Retention Credits.

Brian is a frequent contributor to the Fox Rothschild Tax Controversy and Financial Crimes Report blog (https://taxcontroversy.foxrothschild.com) and the Fox Rothschild North Carolina Appellate Practice blog (https://ncapb.foxrothschild.com).

Agenda

I. The Employee Retention Credit (ERC)| 1:00pm – 1:10pm

II. Issues facing taxpayers – the role of promoters, qualification for the ERC, potential civil and criminal enforcement, third-party civil issues | 1:10pm – 1:30pm

III. The option to withdraw an ERC claim | 1:30pm – 1:40pm

IV. The ERC Voluntary Withdrawal Program | 1:40pm – 1:50pm

V. Potential legislative changes to the ERC | 1:50pm – 2:00pm

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