The IRS has identified about $1 billion in potential savings from erroneous employee retention credit (ERC) claims, with over half of that money coming from enforcement efforts and the rest from the ...
After a detailed review, the IRS says it plans to deny tens of thousands of improper high-risk Employee Retention Credit (ERC) claims. IRS Commissioner Danny Werfel said the extra looks “confirmed ...
The news isn’t all bad for businesses with outstanding ERC claims. Despite criticisms that the process is taking too long, the IRS will continue to review Employee Retention Credit (ERC) claims ...
On November 22, FinCEN and the IRS issued an alert to financial institutions regarding Covid-19 Employee Retention Credit (ERC)-related fraud schemes. Authorized by the CARES Act, the ERC is a tax ...
On November 22, 2023, the Financial Crimes Enforcement Network (“FinCEN”), in close coordination with the Internal Revenue Service (“IRS”) Criminal Investigation (“CI”), issued an alert (“Alert”) ...
Do you know what grinds my gears? Taxes. All those forms, calculations, and rules—it’s enough to make your head spin! But one tax credit makes the headache worthwhile: the Employee Retention Credit ...
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