IRS Working on ERC Claims

The employee retention credit (ERC), created during the pandemic to encourage employers to keep employees on the payroll, has produced major fraud that the IRS is trying to uncover. This has led to delays of making refunds for legitimate claims. The IRS announced that it was moving forward. It issued 28,000 disallowance letters and thinks errors are “relatively isolated.” But an employer can challenge a disallowance letter through an appeals process. #IdeaoftheDay