October 8, 2024

Risk Management Aspects of the IRS’s Second ERC Voluntary Disclosure Program and the ERC Withdrawal Option

October 8, 2024October 8, 2024 by Amber

On August 15, 2024, the IRS announced a second Employee Retention Credit Voluntary Disclosure Program (“ERC-VDP”) for the benefit of businesses and tax-exempt organizations that erroneously claimed the Employee Retention Credit (“ERC”) for 2021 and have received a credit or refund prior to August 15, 2024. The initial Voluntary Disclosure Program (“VDP”) for the 2020 … Read more

CTA-BOI Reporting … The Saga Continues

October 8, 2024 by Amber

The new beneficial ownership reporting requirements under the Corporate Transparency Act (“CTA”) took effect on January 1, 2024, and months later, the small business community remains woefully unprepared for compliance with this complex reporting regime. CAMICO continues to receive numerous inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting … Read more

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