A Tax Credit Worth Thousands But Don't Get Too Excited
Ahoy there pirates of the business world! The IRS has unveiled a so called "voluntary disclosure program" for all you scallywags who mistakenly claimed the employee retention tax credit (ERC) during these crazy Covid times. The ERC was supposed to help small businesses affected by the pandemic but it seems some sneaky entrepreneurs saw it as a treasure chest.
A Cottage Industry of Wrongly Claimed Credits
Arr me hearties it turns out that there be a whole industry of firms pushin' employers to wrongly claim this tax credit. Those scurvy dogs! But fear not the IRS is here to make things right!
A Limited Time Offer from the Tax Man
Avast ye landlubbers! The IRS has rolled out a "special withdrawal process" for those with pending claims. And now they've come up with this fancy voluntary disclosure program. But don't dilly dally me mateys it's a limited time offer! The deadline to apply be March 22 2024. That's sooner than a Davy Jones' locker!
No Monkey Business Allowed
"We urge employee retention credit recipients who think they were misled by promoters to review these special programs," says IRS Commissioner Danny Werfel. Aye me hearties don't be shy. If ye think ye been swindled the IRS wants to hear from ya. They be offerin' either the disclosure program or the withdrawal option dependin' on yer situation. But remember no monkey business allowed!
Watch Out for Those Rejection Letters
Shiver me timbers! The IRS be sendin' out over 20,000 rejection letters to those scallywags who made dubious claims. And there be more letters to come! So if ye haven't heard from the tax collector yet ye be in luck. Ye still have a chance to repent for yer tax sins.
Ahoy Mateys! Here's How to Qualify
Listen up me hearties! To qualify for this program ye need to provide the IRS with information about the scurvy dogs who helped ye with yer erroneous claim. And ye can apply by filin' Form 15435. Just be sure to steer clear of any penalty reefs along the way savvy?
IRS voluntary disclosure program employee retention tax credit pandemic taxes small businesses Covid-19 tax break third-party promoter fees
Comments
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mc4lyfe
I wonder if there's a tax credit for finding the One Piece?
ruallyan
I bet Blackbeard would have claimed the tax credit and used it to fund his pirate crew!
serenareeks
I hope the IRS likes meat... because that's all I have to offer!
marlena
Why do taxes have to be so complicated? Can't we just sail the Grand Line and find treasure?
palenergysmart
As a pirate, I'm used to takin' what I want. But even I know that's not how taxes work!
ahazel73
Finally, a chance to make things right. Yo ho ho!
Posiedon010
Arr, taxes be scarier than a Kraken's tentacles!
stormer40
I hope the IRS has a sense of humor. I'm thinking about claiming my straw hat as a business expense!
topafridi2
Why can't the IRS be more like Chopper? He's a reindeer that knows how to have fun!
billythekid89
If the IRS had a bounty on tax evaders, I'd be their top target!