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Employee Retention Credit - Voluntary Disclosure Program

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Rödl & Partner Tax Matters Volume 2024-1published January 16, 2024

In December 2023, the IRS announced a new Voluntary Disclosure Program (“VDP”) for taxpayers that claimed and received Employee Retention Credits (“ERCs”) but subsequently discovered they were ineligible for the credits.

The VDP is open through March 22, 2024, and requires repayment of 80% of the ERCs received (allowing taxpayers to retain 20%). 

More information, including FAQs, details on eligibility, and application requirements can be found at https://www.irs.gov/coronavirus/employee-retention-credit-voluntary-disclosure-program

If you have questions about your eligibility for ERCs or how to participate in the VDP, please contact your local Rödl and Partner representative.

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