IRS Earns Praise for ERC Claim Withdrawal Initiative
An IRS initiative that will allow businesses to withdraw questionable employee retention credit claims is being hailed as a positive development that could help taxpayers and the IRS alike.
ERC — IRS Withdrawal Process — What Should Business Owners Do?
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
IRS offers process for withdrawing bogus ERC claims
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.
IRS uses IRA funds to bridge tax gap
The Internal Revenue Service is trying to leverage the extra billions in funding from last year’s Inflation Reduction Act to narrow the ever-increasing gap between taxes due and taxes collected, but has spent surprisingly little of the money so far.
The IRS is going after scammy firms pushing a small business tax credit
Pop-up companies aggressively pushing a small business tax credit may soon be in hot water with the IRS.
‘Tsunami’ of ERC claims required IRS action to halt fraud, experts say
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.
IRS to Stop Processing Employee Retention Credits Until 2024
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
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.
IRS Temporarily Stops Employee Retention Credit Processing
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.
IRS halts new ERC processing after flood of bogus claims
The Internal Revenue Service said Thursday it’s putting an immediate stop to processing of new claims for the Employee Retention Credit after receiving a surge of questionable claims. The immediate moratorium will be in effect until the end of the year.