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Warning Signs of Questionable Employee Retention Credit Claims

Bailey Scarano Blog, Tax & Money Tips / By Bonnie Buol Ruszczyk

The IRS has issued a warning to small businesses regarding potential issues with Employee Retention Credit (ERC) claims as the March 22, 2024 deadline for the ERC Voluntary Disclosure Program approaches. Seven suspicious warning signs have been identified based on feedback from tax professionals and compliance personnel. These signs may indicate erroneous claims and could lead to IRS scrutiny. The ERC Voluntary Disclosure Program allows businesses to rectify incorrect claims by repaying just 80% of the amount claimed. Taxpayers who […]

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IRS Launches ERC Repayment Program

If you have received refunds through the Employee Retention Credit (ERC) and are concerned about its legitimacy, a recent development from the IRS could be good news for you. Earlier in 2023, we wrote about how many of the companies offering to help with ERC credits were scams, and how the fraud was so rampant