IRS Reminds Employers of November Deadline for ERC Program

The IRS reminded employers that they can apply for the employee retention credit (ERC) voluntary disclosure program until November 22 [e-News for Payroll Professionals, Issue 2024-12, 11-12-24]. The second round of the program is open for tax periods in 2021 only.

Businesses accepted into the program will need to repay 85% of credits received but will not need to repay any interest that the IRS paid on ERC refund claims. The IRS will not charge interest or penalties on any credits timely repaid.

How to Apply

To apply, businesses must submit Form 15434, Application for Employee Retention Credit Voluntary Disclosure Program, using the IRS Document Upload Tool. Businesses that applied for the original voluntary disclosure program should not reapply for the same periods.

More information about the second program is available in FAQs.

To learn more about federal and state laws, regulations, and information to keep your company's payroll operations in compliance, check out Payroll Source Plus!

Jyme Mariani, Esq., is Managing Editor of Payroll Currently and Senior Manager of Payroll Information Resources for PayrollOrg.