Helping Clients Navigate the Employee Retention Credit Mess

Event Overview

Recent developments in Employee Retention Credit (ERC) processing and IRS ERC examinations have left many who made ERC claims in the dark as to whether they will receive them. Others are wondering whether they will be the scapegoat in penalties for an overreaching claim. Many CPAs and Tax Preparers are stuck in the middle and don’t know how to advise their clients or help them receive their claims.

The IRS has processed ERC claims slowly and unevenly. The IRS examination of ERC claims is also mired in confusion and nuanced legal issues. Last fall, the IRS announced a new safe harbor withdrawal process for taxpayers who have submitted ineligible ERC claims. The ERC claim withdrawal process was narrow in scope and only available to organizations that can meet all four of the IRS requirements. Questions remain for taxpayers who did not meet those requirements but may need to amend or withdraw their claim.

Eide Bailly’s National Tax Office has helped clients benefit from the Employee Retention Credit and navigate the withdrawal and audit processes when receiving questions from the IRS. In addition to exploring ERC claims and challenges, this seminar will discuss Energy Efficiency Incentives available in the Inflation Reduction Act and insights into what we see with the Affordable Care Act.

Energy Credits & Incentives

The Inflation Reduction Act of 2022 provides significant incentives for renewable and energy efficiency technology investments, ushering in the upcoming Climate Economy. Eide Bailly’s Business Credits & Incentives team helps organizations navigate the $1.7 trillion in potential incentives to be given out through 2032. Our industry-leading Energy Incentive Program allows you to identify and claim available incentives, reducing confusion and complexities. We help organizations identify if they can benefit from the Investment Tax Credits under Section 48, Production Tax Credits under Section 45, Residential Energy Credit (Section 45L), Building Energy Deduction (Section 179D), and the Utility Sales Tax Exemption.

Affordable Care Act

Eide Bailly’s Affordable Care Act team will discuss key considerations and recent updates related to the ACA. Our team understands the complexities of the ACA and its impact on organizations. We’ll discuss employer issues and the latest IRS notices being issued. Join us to learn how our team can work with you to provide value-added services to your clients.