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ERC Repayment

Friday, January 05, 2024 9:00 AM | Anonymous member (Administrator)

If you received ERC funds without having the requisite reduction of revenue, read the article linked below for the escape plan.

Here’s a summary:

  • This IRS program requires qualifying businesses to repay 80% of their ERC claim received.
  • Employer must provide names, addresses, and phone numbers of the claim preparers.
  • No penalties or interest will be charged.
  • You can request an installment agreement if you can’t repay the required 80%.
  • Participation in this ERC voluntary disclosure program requires submission of Form 15434.

 Click here for more information.

Chicago Automobile Trade Association
18W200 Butterfield Rd.
Oakbrook Terrace, IL 60181 
(630) 495-2282


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