Category: Coronavirus Updates

February 2, 2024
Employee Retention Credit IRS Audit Update

The CARES act was signed into law March 27, 2020 which gave us the Employee Retention Credit (ERC). This refundable tax credit was intended to help those affected by COVID restrictions or disruptions. Unfortunately it has been abused by many organizations and more importan...

January 15, 2024
Correcting Erroneous ERC Claims

In this video, Chris Wittich discusses the process of correcting erroneous claims in the ERC (Employee Retention Credit) program. He explains the voluntary disclosure program, which allows borrowers to amend and fix an ERC claim if a mistake was made. Chris also highlights t...

January 3, 2024
ERC Second Look Consulting

Consulting with Chris Wittich to determine the best path forward on ERC. In the event that the ERC claim is deemed valid, taxpayers can find reassurance in the accuracy of their claim. On the contrary, if the ERC claim is identified as problematic, we will thoroughly explore...

October 23, 2023
ERC Update October 2023 | Withdraw an ERC Claim

The IRS has issued a new announcement, granting eligible employers who have filed for an Employee Retention Credit (ERC) the option to retract their submission if they have not yet received their refund. This decision is a response to the numerous of fraudulent ERC schemes t...

September 28, 2023
Employee Retention Credit Update | September 2023

The very first time the IRS started warning people about ERC compliance and the scams and schemes going on was in the fall of 2022 after a big push from the AICPA. Lets take a look at how this has been going in just the past 12 months and see how it’s escalated dramatical...

April 27, 2023
ERC Update | April 2023

Boyum Barenscheer's Chris Wittich gives an update on the Employee Retention Credit. ...

April 3, 2023
Don’t Fall for These Red Flags: How to Identify Bad Employee Retention Credit Preparers
July 26, 2022
Mythbust and Maximize the Employee Retention Credit

The employee retention credit (ERC), the refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic was signed into law on March 27, 2020, as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and fur...

March 3, 2022
March 2nd, 2022: ERC Webinar Recording

Join Boyum's Chris Wittich on March 2nd, 2022 for a informational webinar on Employee Retention Credit....

September 22, 2021
EIDL Program Retooled for Still-Struggling Small Businesses

For many small businesses, the grand reopening is still on hold. The rapid spread of the Delta variant of COVID-19 has mired a variety of companies in diminished revenue and serious staffing shortages. In response, the Small Business Administration (SBA) has retooled its Eco...

September 3, 2021
Recovery Start-Up Employee Retention Credit

Did you start a business in 2020 and think that you were unable to qualify for the amazing Employee Retention Credit? Well, think again; you could be in luck. The recently enacted American Rescue Plan Act of 2021 (ARPA), created a new path that could allow you to qualify for...

May 19, 2021
Tax Update on PPP, Unemployment Benefits and Employee Retention Credits

Here in Minnesota it was just announced that the legislature has come to an agreement on conformity for two big ticket items, the PPP loans and $10,200 of unemployment benefits. Both are expected to be tax free when a final bill is signed, matching the federal treatment of ...