The ERC is a tax credit that goes into your pocket, not a loan that you need to repay. While ERC applications are paused until at least through 2023, you may qualify for the ERC if you own a small business or tax-exempt organization that continued paying your workers from March 13, 20...
On September 14, 2023, the Internal Revenue Service (IRS) announced a moratorium on processing new Employee Retention Credit (ERC) claims. In its News Release, the IRS stated that the moratorium is due to “rising concerns about a flood of improper Employee Retention Credit cl...
The Internal Revenue Service has recently warned about ERC scams as more small business owners are taking advantage of this tax credit. The employee retention credit (ERC) is a tax credit that can result in thousands of dollars back for small business owners — unfortunately, scammers are after...
After the IRS instituted a pause on processing Employee Retention Tax Credit (ERC) claims on September 14, 2023, the issuing of ERC refunds to small businesses screeched to a halt. If theERC pauseleft your business high and dry after submitting your ERC claim, an ERC loan might be the pe...
questionable claims; concerns from tax pros,” IR-2023-169, September 14, 2023,https://www.irs.gov/newsroom/to-protect-taxpayers-from-scams-irs-orders-immediate-stop-to-new-employee-retention-credit-processing-amid-surg...
The ERC is a tax credit that goes into your pocket, not a loan that you need to repay. While ERC applications are paused until at least through 2023, you may qualify for the ERC if you own a small business or tax-exempt organization that continued paying your workers from March 13, 20...