Tax officials see “red flags” in at least 70 percent of claims for the Employee Retention Credit program, IRS Commissioner Danny Werfel said. Updated June 20, 2024 More than 1 year ago 4 min ...

Despite the processing pause, the IRS is still receiving about 17,000 applications for the tax credit per week, Werfel said Thursday. But he added that the moratorium helped limit the number of ...

The IRS said Thursday, June 20, 2024, a review of 1 million claims for the Employee Retention Credit representing $86 billion shows the “vast majority” are at risk of being improper. (AP Photo ...

The Internal Revenue Service is planning to deny billions of dollars of claims for the pandemic-era employee retention tax credit, and to maintain a moratorium on processing claims filed since mid ...

The Internal Revenue Service said Thursday it will pause accepting claims for a pandemic-era tax credit until 2024 due to rising concerns that an influx of applications are fraudulent.

Within its review–collectively worth more than $86 billion of ERC claims–the IRS says that up to 20 percent of claims were deemed most at risk for fraud, while another 60 to 70 percent have ...

New claims for the employee retention credit, or ERC, won’t be processed until at least 2024, the IRS announced Thursday. The tax agency also plans to give tougher scrutiny to an existing queue ...

The IRS is pausing accepting claims for a pandemic-era tax credit until 2024 due to rising concerns that an influx of applications are fraudulent.

The Internal Revenue Service is pausing accepting claims for a pandemic-era tax credit until 2024 due to rising concerns that an influx of applications are fraudulent. The tax credit, called the ...

The IRS has received 3.6 million claims for the credit over the course of the program. It said hundreds of criminal cases have been started and thousands of claims have been referred for audit.

FILE – A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. The IRS is pausing accepting claims for the Employee Retention Credit, a pandemic-era tax credit ...