Businesses may still qualify for ERC despite IRS delay
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.
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.
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.
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.
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.