In January 2024, the House Ways and Means Committee introduced the Tax Relief for American Families and Workers Act of 2024. This proposed legislation, among other things, moves the deadline forward for ERC claim submissions. The proposed, much earlier deadline would apply to all ERC claim submissions, including those for quarters during 2021. The current claim submission dates are April 15, 2024 (2020 claims) and April 15, 2025 (2021 claims).
If approved, this legislation could end the ERC sooner. Watch for additional guidance.
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.
