The IRS recently announced an immediate moratorium on the processing of new employee retention credit (ERC) claims. This halt is an effort to protect taxpayers and business owners from increasing scams around submitting fraudulent claims. You can review the full details of this announcement on our blog.
If you have questions about the moratorium and navigating the ERC submission process, you can review the following IRS resources:
- Frequently asked questions: IRS officials added new questions and answers that are commonly asked by business owners.
- Special eligibility checklist: Use this resource to figure out whether your business is eligible to claim the ERC and/or whether you need to resolve a claim. This checklist can help you figure out if you were the victim of a potential scam or misled by aggressive promoters.
We also recommend that you consult with a tax professional for additional information. View the full ERC page on the IRS site for additional resources and the latest updates.
This article is informational and does not constitute legal or financial advice. Consult with an employment lawyer or accountant for additional clarification on how these changes impact your company.
