In the Headlines
May 15, 2025
GOP Plans to Halt COVID Credit Poised to Stir New Challenges
Bloomberg Law
Tax attorney Daniel Strickland was quoted in a Bloomberg Law article discussing the potential challenges arising from House Republicans' plan to end the employee retention credit (ERC) program early. The ERC was a key pandemic-era relief measure designed to help businesses retain employees during the unprecedented economic disruption caused by COVID-19. Mr. Strickland emphasized the cautious approach many businesses took when filing claims amid uncertain and rapidly changing rules, and he raised concerns about audit fairness of documenting eligibility during that period.
"My worry is that taxpayers won't be treated fairly if they don't have substantiation... That's what the IRS is requiring in these audits. But in many instances, we have issues substantiating facts today, let alone five years from now," he said.
READ: GOP Plans to Halt COVID Credit Poised to Stir New Challenges (Subscription required)
"My worry is that taxpayers won't be treated fairly if they don't have substantiation... That's what the IRS is requiring in these audits. But in many instances, we have issues substantiating facts today, let alone five years from now," he said.
READ: GOP Plans to Halt COVID Credit Poised to Stir New Challenges (Subscription required)