IRS Issues Immediate Stop on any New Processing of ERTC Claims.
On September 14th, 2023, the IRS ordered an immediate stop to the processing of any news claims to receive the employee retention tax credit. The IRS saw a spike in falsely reported claims by third parties informing taxpayers they are eligible to receive up to $26,000 even if they did not see a decline in gross receipts or a government mandated shutdown.
The IRS will continue to process previously filed claims, but will be scrutinizing the applications more heavily due to the false claims. One of the ways they are pursuing this is by working closely with the justice department to seek out the aggressive marketing tactics that were used to influence taxpayers.
If you have not yet applied for the employee retention tax credit and receive communication from a third party claiming you are eligible for the credit, please seek out the advice of a tax professional to verify you are, in fact, eligible.
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