Under the new withdrawal option, certain employers that have filed an ERC claim but have not received a refund can withdraw their submission and avoid future problems.
The idea of the Employee Retention Credit was to get money into the hands of employers during the pandemic. Now, the IRS worries it s become a money grab.
The airwaves and Internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERC).
With the Internal Revenue Service making substantial progress in the ongoing effort related to the Employee Retention Credit claims, Commissioner Danny Werfel said the agency has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing. Speaking Tuesday at a special roundtable session of tax professionals in Atlanta, Werfel
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