with respect to which a deduction would not 
have been allowed if the portion of the credit to 
which such assessment relates had been prop-
erly claimed.’’. 
(j) EFFECTIVE DATES.— 
(1) IN
GENERAL.—Except as otherwise pro-
vided in this subsection, the provisions of this sec-
tion shall apply to aid, assistance, and advice pro-
vided after March 12, 2020. 
(2) DUE
DILIGENCE
REQUIREMENTS.—Sub-
sections (b) and (c) shall apply to aid, assistance, 
and advice provided after the date of the enactment 
of this Act. 
(3) LIMITATION ON CREDIT AND REFUND OF 
COVID-RELATED EMPLOYEE RETENTION TAX CRED-
ITS.—Subsection (h) shall apply to credits and re-
funds allowed or made after January 31, 2024. 
(4) AMENDMENTS TO EXTEND LIMITATION ON 
ASSESSMENT.—The amendments made by subsection 
(i) shall apply to assessments made after the date of 
the enactment of this Act. 
(k) TRANSITION RULE WITH RESPECT TO REQUIRE-
MENTS TO DISCLOSE INFORMATION, MAINTAIN CLIENT 
LISTS, ETC.—Any return under section 6111 of the Inter-
nal Revenue Code of 1986, or list under section 6112 of 
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such Code, required by reason of subsection (d) of this 
section to be filed or maintained, respectively, with respect 
to any aid, assistance, or advice provided by a COVID– 
ERTC promoter with respect to a COVID–ERTC docu-
ment before the date of the enactment of this Act, shall 
not be required to be so filed or maintained (with respect 
to such aid, assistance or advice) before the date which 
is 90 days after such date. 
(l) PROVISIONS NOT TO BE CONSTRUED TO CREATE 
NEGATIVE INFERENCES.— 
(1) KNOWLEDGE REQUIREMENT FOR PURPOSES 
OF PENALTY FOR AIDING AND ABETTING UNDER-
STATEMENT
OF
TAX
LIABILITY.—Subsection (b) 
shall not be construed to create any inference with 
respect to the proper application of section 
6701(a)(3) of the Internal Revenue Code of 1986 
with respect to any aid, assistance, or advice other 
than the aid, assistance, or advice to which such 
subsection applies. 
(2) REQUIREMENTS
TO
DISCLOSE
INFORMA-
TION, MAINTAIN CLIENT LISTS, ETC.—Subsections 
(d) and (k) shall not be construed to create any in-
ference with respect to whether any COVID-related 
employee retention tax credit is (without regard to 
subsection (d)) a listed transaction (or reportable 
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transaction) with respect to any COVID–ERTC pro-
moter; and, for purposes of subsection (j), a return 
or list shall not be treated as required (with respect 
to such aid, assistance, or advice) by reason of sub-
section (d) if such return or list would be so re-
quired without regard to subsection (d). 
(m) REGULATIONS.—The Secretary (as defined in 
subsection (c)(5)) shall issue such regulations or other 
guidance as may be necessary or appropriate to carry out 
the purposes of this section (and the amendments made 
by this section). 
Æ 
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