I attended this webinar held by the IRS and the following information is being provided for your reading:
This program was established through the IRS to repay the any Employee Retention Credit offered during the pandemic that was incorrect or fraudulent, until March 22, 2024 at 11:59pm (local time)
If the refund is not yet received, it can just be withdrawn without completely the required following forms:
Form 15434
Form SS-10 Consent to extend time to file assess employment tax
Form 8822-B Change of address (if applicable)
Form 8655 Representative
Form 433-B Installment agreement with supporting documents of unable to repay full amount necessary.
Schedule R
These forms must be submitted electronically through irs.gov/dut
Start filing with oldest year claimed
Dut (document upload tool) allows for pictures of documents taken by phone
Only owners/officers/partners must sign
This voluntary disclosure requires repayment of 80% without penalty and interest at the time of filing the signed closing agreement. The payment of each quarter repaying must be done in www.eftps.gov with separate payments made for each quarter. The explanation clicked is “audit adjustment/advanced payment of audit adjustment”
No amendment of tax returns is required
The IRS will not audit any employment tax return for the tax period(s) resolved within these terms
There will be no better terms for repayment. This is it!
If a third-party payer submitted the original credit request, they must submit this application.
The application requires that you must inform the IRS of anyone who assisted with the claim. (I am so glad I did not prepare a single one!)
This entire agreement DOES NOT remove any criminal charges of fraud.
If you have any questions, please let me know.
Thank you