The Internal Revenue Service (IRS) has rejected over 20,000 Employee Retention Credit (ERC) applications, citing fraudulent claims and oversight of Covid-19-era small-business tax credit. Recent IRS efforts to reduce fraudulent applications may complicate small-business owners' efforts to cash in. The potentially lucrative tax credit has a major deadline in a couple of months. The IRS is specifically targeting employers that either didn't exist or didn't have employees during the required period. This move comes as part of an overhaul on how the IRS oversees the pandemic-era tax credit.
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IRS rejects claims from 20,000 taxpayers for lucrative small business tax credit https://t.co/y7s3bqoWO7 by @RebeccaChenP
The IRS is rejecting more than 20,000 Employee Retention Credit applications as part of an overhaul on how it oversees the Covid-19-era small-business tax credit. https://t.co/RLXBuaMSqP
The IRS is rejecting more than 20,000 Employee Retention Credit applications as part of an overhaul on how it oversees the Covid-19-era small-business tax credit. https://t.co/H88Z0ror4s
IRS To Issue More Than 20,000 Letters Denying Employee Retention Credit Claims https://t.co/a0dM1ee9z9
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The potentially lucrative tax credit has a major deadline in a couple of months, although recent IRS efforts to reduce fraudulent applications may complicate small-business owner efforts to cash in. https://t.co/GJlsh8v6tQ
The Internal Revenue Service is rejecting more than 20,000 requests for pandemic-era tax refunds from employers that either didn’t exist or didn’t have employees during the required period https://t.co/Cxek4UqerX https://t.co/Cxek4UqerX
The potentially lucrative tax credit has a major deadline in a couple of months, although recent IRS efforts to reduce fraudulent applications may complicate small-business owner efforts to cash in. https://t.co/pMkV2STAu8
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens https://t.co/BlyPuwOSys
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens https://t.co/Xb0vECyuJC
IRS rejects more than 20,000 refund claims for pandemic-related tax credit https://t.co/zyPmc8Tl0q