Thousands of businesses looking to revise ERC claims at a discount will now get a second chance, as the IRS recently announced the reopening of its Voluntary Disclosure Program (VDP).
The program, designed to help businesses fix incorrect Employee Retention Credit (ERC) claims without penalties or interest, will run for a limited time through Nov. 22. This second VDP will offer a 15% discount for businesses repaying credits for tax periods in 2021, slightly down from the first voluntary ERC disclosure program’s 20% that ended in March.
