IRS Stops Processing of Employee Retention Credit (ERC) Claims Through 2023

September 15, 2023 by Teri Pough

There has been growing concern over Employee Retention Credit (ERC) claims filed by unqualified business owner applicants fueled by a surge in scammers encouraging ineligible business owners to file claims. Honest business owners are plagued with aggressive broadcast advertising, direct mail solicitations, and online promotions for this credit. Many of these ads misrepresent who can qualify for the ERC, which is sometimes also called ERTC or the Employee Retention Tax Credit.

In response, the Internal Revenue Service (IRS) announced an immediate stop to processing new ERC claims starting September 14 through the end of the year.

IRS Commissioner Danny Werfel, who ordered the moratorium on ERC processing, said “The continued aggressive marketing of these schemes is harming well-meaning businesses and delaying the payment of legitimate claims, which makes it harder to run the rest of the tax system. This harms all taxpayers, not just ERC applicants.”

The IRS, tax professionals, and the media raised concerns that a substantial share of new claims from the COVID relief program are from businesses that are not eligible to receive the ERC. The IRS is now reviewing thousands of ERC claims and increasing audit work and has commenced hundreds of criminal investigations on the fraudulent ERC promoters. Payouts for eligible claims will take longer as processing will increase from 90 to 180 days.

Read the IRS bulletin on this ERC moratorium.

Businesses that are approached with high-pressure tactics to apply for the ERC and pay a contingent fee should exercise caution. The IRS intends to introduce programs in the coming weeks and months to help taxpayers who have fallen victim to an ERC scam.

For advice on dealing with ERC scammers, read the IRS bulletin Learn The Warning Signs Of Employee Retention Credit Scams.

If you have questions about how this may affect your personal situation, please reach out to your CironeFriedberg tax professional. You can reach us by phone at (203) 798-2721 (Bethel), (203) 366-5876 (Shelton), or (203) 359-1100 (Darien) or email us at info@cironefriedberg.com.

Announcing Staff Promotions

August 28, 2023 by Teri Pough

CironeFriedberg, LLP, is pleased to announce the recent promotions of Lucas Ullrich, CPA, to Supervisor and Hoang Nguyen and Adam Ross to Senior Accountants.

Lucas Ullrich, CPA, received his Master of Science in Accounting from Post University and his Bachelor of Science in Business Administration with a concentration in Accounting from Southern Connecticut State University. He specializes in audit and attestation with a focus on not-for-profit clients, employee benefit plans, and Federal single audits. Lucas also prepares financial statements and individual and corporate tax returns.

Hoang Nguyen received a Master of Science in Accounting with a Taxation concentration from the University of New Haven and a Bachelor of Science in Accounting from the University of Bridgeport. Hoang provides tax services to individuals and closely‐held businesses. Prior to joining CironeFriedberg in 2021, Hoang was a Staff accountant at a Fairfield County CPA firm, where he prepared individual, trust, corporate, and partnership tax returns.

Adam Ross is a Senior Accountant with the Firm. He joined CironeFriedberg in 2020 as a Staff Accountant after completing an Accounting Internship. He specializes in Client Account Services for a variety of business clients and also prepares business and individual tax returns. Adam received a Bachelor of Business Administration and Accounting from Western Connecticut State University.

Tony Cirone, CironeFriedberg’s managing partner, says “We extend our congratulations on these well-deserved promotions and look forward to their continued growth and success with our firm in their new roles.”

About CironeFriedberg

CironeFriedberg is a leading regional CPA firm serving middle market, closely held and family-owned businesses, high-net-worth individuals, and not-for-profit organizations in Fairfield and New Haven Counties, in Connecticut, and the neighboring New York counties of Duchess, Putnam, and Westchester. The firm provides a full range of tax, audit and accounting, and business advisory services from three offices in Bethel, Shelton and Stamford Connecticut. CironeFriedberg offers clients unique access to national and international markets through our membership in CPAmerica, an association of independent accounting firms that maintain the highest practice standards. Learn more at https://cironefriedberg.com.

CironeFriedberg Announces Audit Partner Promotion

June 26, 2023 by Teri Pough

CironeFriedberg, LLP, is pleased to announce the promotion of Nicholas DaPaz, CPA, to Partner in Charge of Audit services for the Firm.

Nick joined CironeFriedberg in 2019 as a Manager and was quickly promoted to Senior Manager before becoming Partner in 2021. Nick has over 20 years of experience providing audit and tax services for employee benefit plans and multistate and multinational companies in a variety of industries, including public utility, manufacturing, and not-for-profit organizations. Nick also provides tax planning and return preparation for individuals and corporate clients.

Licensed as a CPA in Connecticut, Nick is a member of the Connecticut Society of Certified Public Accountants (CTCPA) and the American Institute of Certified Public Accountants. He is a graduate of the University of Connecticut, where he earned a Bachelor of Science in Accounting and a Master of Science in Accounting.

Nick is an active member of the Bridgeport Regional Business Council, Greater Danbury Chamber of Commerce, Greater New Haven Chamber of Commerce, and Greater Valley Chamber of Commerce in Shelton. He also recently completed a term serving as Chair of the Employee Benefit Plan Committee of the CTCPA.

Serving as President of the Bridgeport Rotary Club, Nick is also currently Secretary of the Bridgeport Rotary Club Foundation. In addition, Nick recently joined the Board of Directors of the Boys & Girls Club of the Lower Naugatuck Valley, where he also serves on the finance committee.

Tony Cirone, CironeFriedberg’s managing partner, says “We congratulate Nick on this well-deserved promotion and have the highest confidence in his dedication to our clients and his leadership abilities as he assumes his expanded Firm leadership role.”

About CironeFriedberg

CironeFriedberg Announces Tax Partner Promotion

June 26, 2023 by Teri Pough

CironeFriedberg, LLP, is pleased to announce the promotion of David C. Moseman, CPA, to Partner in Charge of Tax services for the Firm.

David joined CironeFriedberg in 2005. He has nearly 30 years of experience providing tax and consulting services to clients. He specializes in estate and trust taxation, partnership taxation and tax planning for privately held businesses and high-net-worth individuals.

Holding CPA licenses in both Connecticut and New York, David is a member of the Connecticut Society of Certified Public Accountants, the New York State Society of CPAs, and the American Institute of Certified Public Accountants. He earned a Bachelor of Science in Business Administration from Bryant University, in Rhode Island, and an MBA from Pace University’s Lubin School of Business, in New York.

An active member of the Greater Danbury Chamber of Commerce and an alumnus of the Danbury Leadership program, David is also a member of the Bridgeport Regional Business Council, Greater New Haven Chamber, and Greater Valley Chamber in Shelton.

Tony Cirone, CironeFriedberg’s managing partner, says “We extend sincere congratulations to David on this well-deserved promotion and are confident that he will continue to provide excellent service to our clients as his leadership role in our firm expands.”

About CironeFriedberg

CironeFriedberg’s Mark Pires Wins 40 Under Forty Award

June 14, 2023 by Teri Pough

(June 14, 2022 – Shelton, Conn.) Mark Pires, CPA and senior manager at CironeFriedberg, LLP, joins the prestigious list of accomplished awardees of the 2023 Fairfield County 40 Under Forty award. The award recipients were announced and celebrated on June 14 at The Point at Norwalk Cove, in Norwalk, Conn.

Mark completed his Bachelor of Science in Accounting and Business Administration at Southern Connecticut State University. He is a Certified Public Accountant in Connecticut and has been practicing in his profession of accounting for 15 years.

In 2021, Mark joined the regional firm CironeFriedberg, LLP, as Senior Manager. He provides audit and tax services to a variety of industries including public utility, manufacturing and not-for-profit organizations as well as employee benefit plans, multistate and multinational corporations, compliance and auditing procedures for single audit engagements and individual and corporate income tax return preparation.

Mark serves as Vice President of the Board of Directors at Bridge House, Inc., a non-profit organization committed to improving the quality of life for adults living with persistent mental illness. In addition, Mark is an active member in a number of professional organizations, including the Connecticut Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Greater Danbury, New Haven, and Greater Valley (Shelton) Chambers of Commerce.

Outside of work, Mark and his wife, Diane, are the busy and happy parents of a six-year-old daughter, a four-year-old son, and a baby on the way.

Tony Cirone, CironeFriedberg’s managing partner, says “We are very proud of Mark and happy to celebrate this well-deserved award.” He adds, “Mark’s leadership is an inspiration to his peers and his commitment to our clients is unparalleled.”

Read Mark Pires’ bio.

About CironeFriedberg

CironeFriedberg is a member of CPAmerica. CPAmerica is a member of Crowe Global, providing our firm access to a top-10 global accounting network with over 200 independent accounting and advisory firms in more than 130 countries.

CironeFriedberg.com

203.366.5876 | info@CironeFriedberg.com

CironeFriedberg Joins Accounting Association, CPAmerica, Inc.

October 11, 2022 by Teri Pough

Two new member firms join accounting association, CPAmerica, Inc.

RFH, PLLC, headquartered in Lexington, Ky., and CironeFriedberg, LLP, headquartered in Bethel, Conn., have joined CPAmerica, Inc., an accounting association of independent, certified public accounting firms that provides shared best practices, networking opportunities and access to expert resources for member firms.

Gainesville, Fla. (October 6, 2022) – RFH, PLLC, headquartered in Lexington, Ky., and CironeFriedberg, LLP, headquartered in Bethel, Conn., have joined CPAmerica, Inc., an accounting association of independent, certified public accounting firms that provides shared best practices, networking opportunities and access to expert resources for member firms.

RFH, PLLC is comprised of over thirty CPAs, CPA Candidates and paraprofessionals. Specializing in audits and assurance, tax, and consulting and advisory services, RFH’s forward-thinking and innovative team utilizes the latest technology to meet their clients’ needs.

CironeFriedberg, LLP is a leading CPA firm serving middle market, privately held and family-owned businesses and high-net-worth individuals. Serving the tax, accounting, and consulting needs across many industries, CironeFriedberg is the firm of choice for manufacturing, distribution, and retail; real estate management, development and construction; and service businesses, including medical practices.

“Our team is excited to join CPAmerica,” said RFH, PLLC partner, Bradley Hayes. “We believe the resources available through the association will positively impact our firm and be another tool to help us obtain our strategic objectives. We look forward to both sharing ideas and learning from the community.”

“CPAmerica is exactly what our team has been looking for,” said CironeFriedberg partner, Anthony Cirone. “We look forward to the collaboration with member firms and learning from each of them, as well as sharing our experiences. The tremendous resources the organization offers as well as those of the member firms will enhance our initiatives as we grow and expand our practice.”

As an exclusive association of independent CPA firms, CPAmerica provides opportunities for its members to continuously improve. CPAmerica is a member of Crowe Global, providing its members and their clients’ access to high quality support around the world from other network member firms.

“We are pleased to gain two like-minded member firms whose objectives are to remain independent through their affiliation with each other,” said Grace Horvath, CPAmerica president. “The edge they gain by utilizing CPAmerica’s meetings, training, access to international expertise and the programs designed for them to improve through sharing is immense.”

Each firm undergoes a rigorous quality review prior to obtaining membership in CPAmerica. Only those firms with the highest standards in all practice areas are approved by the council of members.

CONTACT:

Amy Azoulay

CPAmerica, Inc.

352-727-4070

IRS Stops Processing of Employee Retention Credit (ERC) Claims Through 2023

Announcing Staff Promotions

CironeFriedberg Announces Audit Partner Promotion

CironeFriedberg Announces Tax Partner Promotion

CironeFriedberg’s Mark Pires Wins 40 Under Forty Award

CironeFriedberg Joins Accounting Association, CPAmerica, Inc.

Two new member firms join accounting association, CPAmerica, Inc.

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