Tax pros: Special information available to provide information to clients on Employee Retention Credit Voluntary Disclosure Program

For businesses and clients with questions on the ERC Voluntary Disclosure Program, the IRS has created special information that will help provide information on the new program. The second Employee Retention Credit Voluntary Disclosure Program (VDP) is available for businesses to settle inaccurate claims without incurring penalties or interest. The second ERC-Voluntary Disclosure Program will run through Nov. 22, and allows businesses to correct improper payments at a 15% discount and avoid future consequences. The IRS continues to urge businesses to review the eligibility requirements given aggressive marketing around the pandemic-era credit.