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“IRS Earns Praise for ERC Claim Withdrawal Initiative,” Tax Notes Federal

October 25, 2023

Tom Cullinan quoted in Tax Notes Federal article

In an article published in Tax Notes Federal on October 20, 2023, Atlanta-based Shareholder Tom Cullinan is included in a round-up of sources discussing the IRS’s decision to allow businesses and individual taxpayers to withdrawal questionable employee retention credit claims in light of an increase of ERC scams perpetuated by promoters.

“You’re giving taxpayers an opportunity to come back into compliance, which at the end of the day is what the IRS wants. And at the same time . . . it allows the IRS to redirect resources that it otherwise might have used to adjust bad claims that taxpayers self-correct,” Cullinan said.

Cullinan also mentions that he was “pleasantly surprised to see that even taxpayers under audit can take advantage of the withdrawal option.”

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