Tag: ERC
IRS moving forward with ERC claims
The IRS is adding new actions to help process valid Employee Retention Credit claims amid misleading marketing that led to an exceptionally high rate of improper ERC claims. The IRS says it did not have the resources to process the...
ERC withdrawal process initiatied for those who may have been scammed
Internal Revenue Service is allowing small businesses who believe they may have entered the ERC process fraudulently or under incorrect guidance to withdraw without penalty. This new withdrawal option allows certain employers who filed an ERRC claim but have not...
IRS pauses the processing of new Employee Retention Credit (ERC) claims
Internal Revenue Service has placed an immediate moratorium on processing new Employee Retention Credit (ERC) claims following growing concerns that a substantial share of these claims are ineligible and putting businesses at financial risk by being scammed by aggressive promoters....
Compliance risk for people and businesses claiming Employee Retention Tax Credit improperly
The Internal Revenue Service (IRS) has issued a renewed cautionary advisory, urging individuals to thoroughly review the guidelines for the Employee Retention Credit (ERC) before attempting to claim it, as unauthorized promoters persist in encouraging ineligible individuals to file. Reports...