IRS adds 5 new warning signs for incorrect Employee Retention Credit (ERC) claims, totaling 12, urging businesses to review filings and avoid penalties.
The IRS has added five new warning signs of incorrect Employee Retention Credit (ERC) claims, bringing the total to 12. Businesses should review their filings to confirm eligibility and avoid penalties, interest, and audits. The IRS is intensifying its work on the ERC and will provide more details on new compliance work, a short-term reopening of the Voluntary Disclosure Program, and processing of low-risk payments for small businesses with legitimate claims.
July 26, 2024
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