IRS Announces Moratorium on New Employee Retention Credit Claims Amid Growing Concerns

The IRS has implemented a moratorium on processing new ERC claims until at least December 31, 2023, due to concerns about fraud and ineligibility. Businesses with pending ERC claims should expect extended processing times and compliance scrutiny.

Here are some tips for businesses:

Consult a trusted tax professional before filing an ERC claim to ensure eligibility and compliance.
Consider withdrawing an existing claim if you believe it was submitted improperly.
Wait for the IRS ERC settlement program, which will provide options for businesses to repay ERC claims and avoid penalties.
Be cautious of red flags indicating aggressive marketing and questionable ERC claims.

If you're facing an IRS ERC audit or suspect that your ERC claim was incorrectly filed, please contact us today.

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