WASHINGTON — Following a detailed review to protect taxpayers and small businesses, the Internal Revenue Service announced plans to deny tens of thousands of improper high-risk Employee Retention Credit claims while starting a new round of processing lower-risk claims...
ERC
Review Warning Signs and Resolve Incorrect Employee Retention Credit Claims Soon
The IRS shared seven warning signs of incorrect ERC (Employee Retention Credit) claims and is urging businesses to revisit their claims and apply to the ERC Voluntary Disclosure Program before the March 22, 2024, application deadline. The program helps employers repay...
IRS announces withdrawal process for Employee Retention Credit claims
WASHINGTON — As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned...