IRS issues warnings: ERC scams
Amid urgent concerns about scams, the IRS has immediately halted acceptance of new claims for the Employee Retention Credit (ERC), at least through year end. IRS Commissioner Danny Werfel has seen a flood of reports from tax pros and others, stating that many new claims are ineligible. To reduce the chances of fraud, previously filed claims will be subject to closer scrutiny, causing processing time to rise from 90 to 180 days or more. Werfel urges “people being pressured by promoters” of ERCs to pause, review their situations and “seek out a trusted tax professional” who understands the rules. Here are details from the IRS, including warning flags to be aware of: https://bit.ly/44OZIAw
