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IRS To Issue More Than 20,000 Letters Denying Employee Retention Credit Claims

Summary by Forbes
IRS is disallowing ERC claims to entities that did not exist or did not have paid employees during the period of eligibility.

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IRS To Issue More Than 20,000 Letters Denying Employee Retention Credit Claims

IRS is disallowing ERC claims to entities that did not exist or did not have paid employees during the period of eligibility.

·United States
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The Published ReporterThe Published Reporter
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IRS Announces Rejection of 20,000+ Employee Retention Credit Claims via Letters

The IRS has made a significant announcement, revealing the rejection of over 20,000 Employee Retention Credit claims through official letters dispatched to taxpayers.  This move marks a stringent evaluation process aimed at ensuring compliance with the eligibility criteria for this crucial pandemic relief measure. The ERC, a key provision under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, was designed to provide financial assi…

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Forbes broke the news in United States on Thursday, December 7, 2023.
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