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Voluntary Disclosure Program for Employee Retention Credit Claims Returns

  • ERC

The Internal Revenue Service (IRS) recently announced another round of its Voluntary Disclosure Program (VDP) for Employee Retention Credit (ERC) claims. VDP allows taxpayers with doubts about their ERC filing to voluntarily remit their refund, without penalties or interest, while retaining 15% of their credit.

Failure of Tax Bill Could Hurt Small Business R&D

The Senate’s failure to pass a $78 billion bill that included tax breaks for businesses and low-income families could have dire effects for small business research and development, Accounting Today reported.

Can AI Perform an R&D Tax Credit Study?

Recently, major questions have been asked about pop-up shops claiming to do taxes with artificial intelligence (AI). Some are even saying they can perform studies for complex incentives such as the Research and Development (R&D) credit. The Internal Revenue Service (IRS) has this to say flatly…

Tax bill failure in Senate could decimate small-biz R&D

The Senate’s failure to approve a measure passed earlier this year by the House has delayed, for now, a solution to the quandary faced by many small and midsized companies that are severely hampered by the absence of the ability to currently deduct research & development expenses.