WASHINGTON — As aggressive marketing continues, the Internal Revenue Service renewed an alert for businesses to watch out for tell-tale signs of misleading claims involving the Employee Retention Credit. The IRS and tax professionals continue to see a barrage of...
ERC
Professional Responsibility and the Employee Retention Credit
Since the Fall of 2022, the IRS has issued several warnings to employers to beware of third parties promoting improper Employee Retention Credit (ERC) claims. See IRS IR-2023-40 (Mar. 7, 2023); IRS IR-2022-183 (Oct. 19, 2022); COVID Tax Tip 2022-170 (Nov. 7, 2022)....
Employee Retention Credit: Over but Not Done
The federal government's Employee Retention Credit proved to be a lifeline for many businesses and their employees. The eligibility rules were complex and changed over time, as noted in an extensive IRS chart. Not all owners may have been able to figure out whether...