• March 15, 2024: This date may be the expiration of the statute of limitations for 2020 income tax returns if returns were filed without extension.  Consider filing a protective claim for refund if you claimed the ERC and reduced the ERC-related wage deduction on your 2020 return (whether originally or an amended return).  This proactive step can be beneficial in cases where repayment of the ERC might be required by the government after the statute of limitations for amending the income tax return has expired.  Once the statute of limitations lapses, reclaiming a denied ERC-related wage deduction becomes impossible.
  • March 15, 2024: Another reminder that this date may mark the expiration of the statute of limitations for many 2020 income tax returns.  Taxpayers who claimed the 2020 ERC after their 2020 income tax returns were filed and who have not already amended their income tax returns to remove the ERC-related wage deduction should amend the returns quickly before the statute expires.
  • March 22, 2024: Deadline to apply for the Voluntary Disclosure Program to rectify questionable ERC claims.  For more information, see our January 22, 2024 blog post “ERC Voluntary disclosure program requires only 80% payback available until March 22, 2024.”
  • April 15, 2024: Most ERC filings for 2020 with legitimate claims must be submitted by this date. The deadline for most ERC filings for 2021 is April 15, 2025. (Note if proposed legislation gets enacted, the deadline could be retroactively accelerated to January 31, 2024)

Should you have any questions or need assistance, please contact us as soon as possible.