The IRS today announced a withdrawal process for business owners/tax-exempt managers from their Employee Retention Credit (ERC) claims. The IRS has been taking a hard eye at ERC filings given
The Internal Revenue Service is giving employers a way to rescind inaccurate claims for the Employee Retention Credit if they’ve fallen victim to a scam at the hands of so-called “ERC mills” that aggressively promote the credit to businesses.
Pop-up companies aggressively pushing a small business tax credit may soon be in hot water with the IRS.
The IRS recently delayed processing new claims on a COVID-era payroll tax credit because of fraud. Still, businesses might qualify for the credit depending on how the pandemic affected them.
Unfortunately, the actual number of SMBs and charities taking advantage fell far below that due to
misinformed business owners lacking a full understanding of the credit and its qualifications.
Contrary to headlines making rounds in the past weeks – ERC has NOT been eliminated. The IRS moratorium is for ‘processing new claims’ for this quarter, i.e., until 31st December 2023.
This is the type of language used on websites and in TV ads to get small businesses to apply for the employee retention credit (ERC), a pandemic-era program that applied in 2020 and 2021.
The IRS is clamping down on fraud in a pandemic-era tax program benefitting small businesses.
alliantgroup Vice Chairman and Former IRS Commissioner, Mark Everson Statement on Today’s IRS Announcement on ERC: At alliantgroup we have helped thousands of taxpayers claim this important benefit.
A rash of bogus ERC claims in recent months has prompted the IRS to put the program on hold through at least the end of 2023.