As aggressive marketing continues, the IRS renewed an alert for businesses to watch out for tell-tale signs of misleading claims involving the Employee Retention Credit (ERC). The IRS and tax professionals continue to see a barrage of aggressive broadcast advertising, direct mail solicitations and online promotions involving the ERC.
Don't automatically dismiss this; the credit is real, and you should at least consider if your business might qualify.
But, the IRS warns, aggressive promoters are wildly misrepresenting and exaggerating who can qualify for the credits. The IRS is looking closely at the most aggressive marketers, seeking to identify fraud and promoters of fraudulent claims.
Update 9/14/23: IRS orders immediate STOP to new Employee Retention Credit claims. No new claims will be processed until further notice, and claims already submitted will take much longer (like maybe a year) to be processed.
More information to come soon.
