By Hale E. Sheppard, Esq.

The Employee Retention Credit (“ERC”) has all the elements to ignite a major battle:  Complex laws issued in rapid succession, multiple sources of administrative guidance, rules with retroactive effect, long processing delays, reports criticizing pervasive IRS errors, large numbers of eligible taxpayers, companies advertising questionable claim methods, extended assessment periods, and repeated IRS warnings of serious enforcement.  The IRS has acknowledged that many employers submitted proper claims, complying with the letter and spirt of the ERC.   Other claims were excessive or baseless.  The IRS has experienced significant challenges separating the good from the bad so far.  Therefore, following its standard playbook, the IRS has introduced both carrots and sticks, the effectiveness of which is yet to be seen.  This presentation will explain the complicated ERC rules, common misconceptions, positions by taxpayers, attacks by the IRS, and main issues arising as ERC battles get underway.

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