Author: nvgrow

Henderson, NV (December 12, 2023): The College of Southern Nevada is proud to partner with The City of Henderson to launch the Henderson Small Business Assistance Program (HSBA). The mission is to help underserved, late-stage businesses build long-term resilience, capacity, and the ability to create jobs.

Funded by the City of Henderson and administered by the College of Southern Nevada and NV Grow, this program is open to late-stage startup businesses that have had their principal place of business within the city for at least two years and generate between $50,000-$700,000 in annual revenue.

“We are excited to work closely with these businesses and connect them with high-level technical resources,” said Dr. Clarissa M. Cota, CSN Vice President of the NLV Campus and Administrator in Charge of the Small Business and Entrepreneurship Division. “This program will have a meaningful impact that affects future job creation and the greater business community.”

Business owners selected for the HSBA Program will be paired with an NV Grow counselor who will provide technical expertise for up to 12 months. During that time, the business owners will receive high-level technical assistance from skilled providers in a variety of fields, including marketing, web design, e-commerce, accounting, financing, video creation, and more. The goal is to help small businesses create a resiliency work plan that can help improve chances for entrepreneurial success while identifying project milestones.

The application process for the HSBA Program is already underway. For more information go to https://nvgrow.org/henderson.

The College of Southern Nevada wants to congratulate the winners of the latest Blackstone LaunchPad Ideas Competition powered by StartupTree. The campus-round competition was held virtually on October 26,  2023,, and it offered each finalist a chance to win $1,000 to start the next big thing. The goal of this annual competition is to encourage students to come up with a unique and compelling product or service and then design a solid and practical plan on how they will sell and market it in the real world. All students, regardless of their major, are invited to apply.

The four winners selected for the competition at CSN were Logan Lundblad, Gloria Pipes, Selina Solis and Jimmy Walley.

Lundblad submitted under the Health and Life Science Track. His business idea is called “Typenone” and described as a glucose monitoring/insulin delivery system that allows both devices to receive feedback from each other. Pipes submitted her idea under the Consumer Products and Services Track. It’s called “Luxe Weddings LV” and she wants to work with multiple business partners to provide affordable weddings for her clients. Solis submitted under the General Track and her idea is called “Thunder Buddies”. It’s described as a personalized support doll for cancer patients of any age. Finally, Wally who submitted under the Social and Climate Impact Track proposed an idea called “Carbon Footprint Demolition and Recycling”. It’s a mobile demolition, recycling and manufacturing Center.

Winners from each LaunchPad campus will then move on to compete in the national round competition, where the grand prize winner in each track will receive $10,000!

The College of Southern Nevada Blackstone LaunchPad group fosters a culture of innovative entrepreneurship within the Las Vegas community by developing events and programs that help a diverse student population acquire the expertise necessary to create and sustain a successful business. Our programming provides high-quality services, business acumen, and connections that bridge the gap between the classroom and running a successful business.

Congratulations again to all the campus-round winners. While none of our campus-round winners advanced to win the national competition, they received invaluable feedback from the judges that will undoubtedly enhance their final pitch decks and prepare them for future success.

Scale your business through network introductions, corporate partnerships, customized business solutions, and capital funding.

We understand that the guidance needed by early-stage and startup companies is wholeheartedly different from the assistance most often requested by more mature business concerns.  To achieve our goal of providing the most relevant technical assistance (TA) to business owners, applicants follow one of two paths (early-stage/start-up and existing/mature).

Click here to apply for the portfolio company program.

The IRS and tax professionals continue to see aggressive advertising, direct mail solicitations and online promotions involving the Employee Retention Credit (ERC). These promoters have misled employers and harmed honest employers by misrepresenting and exaggerating who is eligible for this pandemic-era credit.

The IRS is offering an option for taxpayers who filed a claim requesting a refund for an ERC and would now like to withdraw the claim to avoid getting a refund for which they’re ineligible.

The claim withdrawal process is a piece of a larger effort by the IRS, working in conjunction with the tax professional community, to help protect taxpayers by stopping a claim from being processed.

The IRS is committed to protecting taxpayers that mistakenly claimed the ERC, as well as those eligible for the ERC, which is also sometimes called the Employee Retention Tax Credit or ERTC.

As a reminder, anyone who incorrectly claims the ERC has to pay it back and may owe penalties and interest. The IRS wants to help honest taxpayers avoid this situation.

The IRS encourages employers to seek out a trusted tax professional who understands the complex ERC eligibility rules, not a promoter or marketer trying  to get a hefty contingency fee. Trusted tax professionals may also be able to assist with the claim withdrawal process.

The IRS reminds employers that if they request a withdrawal, it means they are asking the IRS not to process their entire adjusted employment tax return for the tax period that included the ERC claim. Claims that are withdrawn will be treated as if they were never filed. The IRS will not impose penalties or interest.

Who can request to withdraw an ERC claim

Employers can use the ERC claim withdrawal process if of all the following apply:

• They made the claim on an adjusted employment tax return (Forms 941-X, 943-X, 944-X, CT-1X).
• They filed the adjusted return only to claim the ERC, and they made no other adjustments.
• They want to withdraw the entire amount of their ERC claim.
• The IRS has not paid their claim, or the IRS has paid the claim, but they haven’t cashed or deposited the refund check.

Businesses that have willfully filed fraudulent claims, assisted in such conduct or conspired to do so should be aware, however, that withdrawing a fraudulent claim will not exempt them from potential criminal investigation and prosecution.

Employers that can’t use this process may still be able to file another adjusted return if they need to:

• Reduce the amount of their ERC claim
• Make other changes to their adjusted return

The frequently asked questions about the ERC have more details for these employers.

How to request to withdraw an ERC claim

Employers that filed their ERC claim through a professional payroll company and want to request a claim withdrawal will need to contact the entity that filed the claim on their behalf. These companies may include a certified professional organization (CPEO), professional employer organization (PEO) or other Section 3504 agents.

Taxpayers that filed an adjusted return to claim the ERC and who want to withdraw their entire claim can use the process below. They must follow the steps for each tax period for which they are requesting a withdrawal. The fax line is a secure, relatively fast way for the IRS to receive withdrawal requests and can be accessed using a computer or mobile device. If the IRS accepts the withdrawal request, the adjusted tax return will not be processed.

Section A: Employers who haven’t received a refund and haven’t been notified their claim is under audit

If the employer filed an adjusted return (Form 941-X, 943-X, 944-X, CT-1X) to claim the ERC and would like to withdraw the entire claim, they can use the process below. If they filed adjusted returns for more than one tax period, they must follow the steps below for each tax period for which they are requesting a withdrawal.

To request a withdrawal, follow these steps:

• Make a copy of the adjusted return with the claim they wish to withdraw.
• In the left margin of the first page, write “Withdrawn.”
• In the right margin of the first page:
  • Have an authorized person sign and date it.
  • Write their name and title next to their signature.
• Fax the signed copy of the return to the IRS’s ERC claim withdrawal fax line at (855) 738-7609 using computer or mobile device. This is the withdrawal request. Keep the copy with tax records.

If a taxpayer can’t fax their request, they can mail the signed copy to the address in the instructions for the adjusted return that applies to their business or organization. Before doing so they should make a copy of the signed and dated first page to keep with their tax records. It will take longer for the IRS to receive a mailed request. Track the package to confirm delivery.

Section B: Employers that haven’t received a refund and have been notified their claim is under audit

Employers facing an IRS audit, also referred to as an exam, can still withdraw their ERC claim.  If a taxpayer has been notified that the IRS is auditing the adjusted return that includes their ERC claim, they should prepare their withdrawal request using the steps in Section A, above, but they should not fax it to the withdrawal fax line or mail it using the address below. Instead:

• If they’ve been assigned an examiner, they should communicate with the examiner about how to fax or mail the withdrawal request directly to them.
• If they haven’t been assigned an examiner, they should respond to the audit notice with the withdrawal request, using the instructions in the notice for responding.

Section C: Employers who received a refund check but haven’t cashed or deposited it

Employers that have received a refund check but still haven’t cashed or deposited it, can still withdraw their claim. They need to mail the voided check with their withdrawal request using these steps:

• Prepare the claim withdrawal request using the steps in Section A, above, but don’t fax the request.
• Write “Void” in the endorsement section on the back of the refund check.
• Include a note that says, “ERC Withdrawal” and briefly explain the reason for returning the refund check.
• Make copies for tax records of the front and back of the voided check, the explanation notes and the signed and dated withdrawal request page.
• Don’t staple, bend or paper clip the voided check; include it with your claim withdrawal request and mail it to the IRS at:

Cincinnati Refund Inquiry Unit

PO Box 145500

Mail Stop 536G

Cincinnati, OH 45250

Track your package to confirm delivery.

What to expect after submitting a withdrawal request

Taxpayers will get a letter from the IRS about whether their withdrawal request was accepted or rejected. The approved request is not effective until the taxpayer has the acceptance letter from the IRS.

If the IRS accepts the withdrawal, the taxpayer may need to amend their income tax return. See Claiming the ERC for explanation of how ERC affects your income tax return. If a taxpayer needs help, they should consult a trusted tax professional.

Additional program coming for those who already received an ERC refund

The IRS is also working on guidance to help employers that were misled into claiming the ERC and have already received the payment. More details will be available this fall.

Other resources

• To help businesses understand this complex credit, the IRS has an interactive Employee Retention Credit Eligibility Checklist that helps employers – and the tax professionals working with them – an easy way to check potential ERC eligibility.
• Frequently asked questions about the Employee Retention Credit
• ERC Webinar
• IR-2023-193, IRS announces withdrawal process for Employee Retention Credit claims; special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams
• News Release: To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros, aggressive marketing to ineligible applicants highlight unacceptable risk to businesses and the tax system

WASHINGTON – As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service today announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy.

This new withdrawal option allows certain employers that filed an ERC claim but have not yet received a refund to withdraw their submission and avoid future repayment, interest and penalties. Employers that submitted an ERC claim that’s still being processed can withdraw their claim and avoid the possibility of getting a refund for which they’re ineligible.

The IRS created the withdrawal option to help small business owners and others who were pressured or misled by ERC marketers or promoters into filing ineligible claims. Claims that are withdrawn will be treated as if they were never filed. The IRS will not impose penalties or interest.

Those who willfully filed a fraudulent claim, or those who assisted or conspired in such conduct, should be aware that withdrawing a fraudulent claim will not exempt them from potential criminal investigation and prosecution.

“The IRS is committed to helping small businesses and others caught up in this onslaught of Employee Retention Credit marketing,” said IRS Commissioner Danny Werfel. “The aggressive marketing of these schemes has harmed well-meaning businesses and organizations, and some are having second thoughts about their claims. We want to give these taxpayers a way out. The withdrawal option allows employers with pending claims to avoid future problems, and we encourage them to closely review the withdrawal option and the requirements. We continue to urge taxpayers to consult with a trusted tax professional rather than a marketing company about this complex tax credit.”

When properly claimed, the ERC – also referred to as the Employee Retention Tax Credit or ERTC – is a refundable tax credit designed for businesses that continued paying employees during the COVID-19 pandemic while their business operations were fully or partially suspended due to a government order, or they had a significant decline in gross receipts during the eligibility periods. The credit is not available to individuals.

The ERC is a complex credit with precise requirements to help businesses during the pandemic, and since mid-September, the IRS has received approximately 3.6 million claims for the credit over the course of the program.

In July, the IRS said it was shifting its focus to review ERC claims for compliance concerns, including intensifying audit work and criminal investigations on promoters and businesses filing dubious claims. The IRS has hundreds of criminal cases being worked, and thousands of ERC claims have been referred for audit.

The new withdrawal process follows the Sept. 14 announcement of an immediate moratorium on processing new ERC claims. The moratorium, which will last until at least the end of this year, follows a flood of ineligible ERC claims. Payouts for claims submitted before Sept. 14 will continue during the moratorium period but at a slower pace due to more detailed compliance reviews. With stricter compliance reviews in place, existing ERC claims will go from a standard processing goal of 90 days to 180 days – and much longer if the claim faces further review or audit. The IRS may also seek additional documentation from the taxpayer to ensure the claim is legitimate.

Enhanced compliance reviews of existing claims submitted before the moratorium is critical to protect against fraud but also to protect businesses and organizations from facing penalties or interest payments stemming from bad claims pushed by promoters.

The IRS continues to warn taxpayers to use extreme caution before applying for the ERC as aggressive maneuvers continue by marketers and scammers.

The IRS is also working on guidance to help employers that were misled into claiming the ERC and have already received the payment. More details will be available this fall.

Who can ask to withdraw an ERC claim

Employers can use the ERC claim withdrawal process if all of the following apply:

• They made the claim on an adjusted employment return (Forms 941-X, 943-X, 944-X, CT-1X).
• They filed the adjusted return only to claim the ERC, and they made no other adjustments.
• They want to withdraw the entire amount of their ERC claim.
• The IRS has not paid their claim, or the IRS has paid the claim, but they haven’t cashed or deposited the refund check.

Taxpayers who are not eligible to use the withdrawal process can reduce or eliminate their ERC claim by filing an amended return. For details, see the Correcting an ERC claim – Amending a return section of the frequently asked questions about the ERC.

How to withdraw an ERC claim

To take advantage of the claim withdrawal procedure, taxpayers should carefully follow the special instructions at IRS.gov/withdrawmyERC, summarized below.

• Taxpayers whose professional payroll company filed their ERC claim should consult with the payroll company. The payroll company may need to submit the withdrawal request for the taxpayer, depending on whether the taxpayer’s ERC claim was filed individually or batched with others.

• Taxpayers who filed their ERC claims themselves, haven’t received, cashed or deposited a refund check and have not been notified their claim is under audit should fax withdrawal requests to the IRS using a computer or mobile device. The IRS has set up a special fax line to receive withdrawal requests. This enables the agency to stop processing before the refund is approved. Taxpayers who are unable to fax their withdrawal using a computer or mobile device can mail their request, but this will take longer for the IRS to receive.
• Employers who have been notified they are under audit can send the withdrawal request to the assigned examiner or respond to the audit notice if no examiner has been assigned.

Those who received a refund check, but haven’t cashed or deposited it, can still withdraw their claim. They should mail the voided check with their withdrawal request using the instructions at IRS.gov/withdrawmyERC.

Upcoming webinar and other resources for help

Tax professionals and others can register for a Nov. 2 IRS webinar, Employee Retention Credit: Latest information on the moratorium and options for withdrawing or correcting previously filed claims. Those who can’t attend can view a recording later.

The IRS unveiled a new question and answer checklist last month to help taxpayers understand if they’re eligible for the credit. Since then, the IRS evolved the checklist into an interactive IRS.gov feature to help employers – and the tax professionals working with them – check potential ERC eligibility.

The IRS also continues to encourage employers to seek out a trusted tax professional who understands the complex ERC rules, not a promoter or marketer trying to get a hefty contingency fee while taking advantage of honest taxpayers.

New approach from scammers

Marketers and scammers have already revised their ERC pitches following the Sept. 14 moratorium announcement. Some are pushing employers who submit an ERC claim into agreeing to costly up-front loans in anticipation of a refund. The IRS urges taxpayers to avoid these loans and also learn the warning signs of ERC scams.

Apply now for paid summer 2024 internships at Blackstone’s real estate portfolio companies through our partnership with Blackstone LaunchPad! Roles include strategy, finance, marketing, technology, communications, people & culture, and more.

Apply ASAP:

• Review the available roles (below) and click through links to apply
• Be sure to select Blackstone LaunchPad in the dropdown to indicate how you learned about the role

Any interns selected for these 2024 internships will join Blackstone LaunchPad’s Summer Intern cohort for additional innovation skills-building, professional development and networking opportunities.

Applications will be reviewed on a rolling basis.

COMPANY	JOB TITLE	LOCATION	LINK TO APPLY
April Housing	People & Culture Intern	Los Angeles, CA	Click Here
April Housing	Preservation Intern	Los Angeles, CA	Click Here
April Housing	Strategic Initiatives Interns	Los Angeles, CA	Click Here
April Housing	Accounting Intern	Los Angeles, CA	Click Here
April Housing	Transaction Management Intern	Los Angeles, CA	Click Here
April Housing	FP&A Intern	Los Angeles, CA	Click Here
April Housing	Asset Management & Ops Intern	Los Angeles, CA	Click Here
April Housing	Capital Markets Intern	Los Angeles, CA	Click Here
BRE Hotels & Resorts	Intern – AI & Data Science Associate Program	New York, NY	Click Here
BRE Hotels & Resorts	Intern – Investments Analyst	New York, NY	Click Here
BRE Hotels & Resorts	Intern – Financial Planning & Analysis	New York, NY	Click Here
LivCor	Intern – Insights	Chicago, IL	Click Here
LivCor	Intern – Revenue & Performance	Chicago, IL	Click Here
LivCor	Intern – Strategic Initiatives	Chicago, IL	Click Here
LivCor	Intern – Technology	Chicago, IL	Click Here
LivCor	Intern – Marketing	Chicago, IL	Click Here
LivCor	Intern – Finance	Chicago, IL	Click Here
Revantage	P&C Talent Acquisition Intern	Dallas, TX	Click Here
Revantage	People & Culture Leadership and Learning Intern	Dallas, TX	Click Here
Revantage	P&C Operations Internship	Chicago, IL	Click Here
Revantage	Corporate Tax Intern	Chicago, IL	Click Here
Revantage	Accounting Intern	Chicago, IL	Click Here
Revantage	Accounting Intern	Chicago, IL	Click Here
Revantage	Financial Planning & Analysis Intern	Chicago, IL	Click Here
Revantage	Communications Intern	Chicago, IL	Click Here
Revantage	Technology Engagement Intern	Dallas, TX	Click Here
Revantage	Technology Intern	Dallas, TX	Click Here
Revantage	Enterprise Risk Management Intern	Chicago, IL	Click Here
Revantage	Valuations Intern	Dallas, TX and Chicago, IL	Click Here

To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims, concerns from tax pros and aggressive marketing to ineligible applicants, posing unacceptable risk to businesses and the tax system. The news releases describe the status of ERC claims processing and the warning signs of ERC scams, and the checklist contains if/then circumstances for determining ERC eligibility.

Please see the attached documents for more information:

IR-23-169 ERC Claim Processing

IR-23-170 ERC Scams Warning Signs

ERC Eligibility Checklist

The Immigrant Community Partners proudly announce the second Immigrant Career Summit of the year, scheduled for Saturday, September 30th. The event will take place at the East Las Vegas Community Center, located at 250 N Eastern Ave., from 11 a.m. to 4 p.m. Planning partners for the summit include College of Southern Nevada (CSN), Nevada State University (NSU), University of Nevada Las Vegas (UNLV), University of Nevada Reno (UNR), Make the Road Nevada (MRNV), Progressive Leadership Alliance of Nevada (PLAN), Governor’s Office for New Americans (ONA), Asian Community Development Council (ACDC), African Diaspora of Las Vegas, and the Consulate of Mexico in Las Vegas. Have any questions you can contact Erika Marquez at (702)619-8753 or Robert Garcia at (562)413-6925.

We had a full house for the ribbon cutting ceremony & NV Grow Business Expo Tuesday morning inside the June Whitley Student Lounge on the CSN North Las Vegas Campus. We were honored to welcome VIP guests & special dignitaries including U.S. Congressman Steven Horsford, NV State Senator Dina Neal, CSN President Dr. Federico Zaragoza, CSN North Las Vegas President Dr. Clarissa Cota and leaders from Blackstone, Maura Pally and Courtney Della Cava. We are excited to launch this new chapter for our Southern Nevada small business community and student entrepreneurs. Thank you to everyone who came out to join us for this incredible event!

Come and enjoy light hors d’oeuvres, witness the ribbon-cutting ceremony, explore our NV Grow Small Business Expo, and be a part of a significant announcement regarding the $3 Million MBDA Capital Readiness Program Award.