Prevent taxpayers from falling victim to scams – Steps, resources and red flags
Tax Resources for Small Business
What the IRS is doing and what you can do to avoid Employee Retention Credit scams
The IRS shared new steps the agency is taking to prevent honest taxpayers from falling victim to Employee Retention Credit (ERC) scams. The IRS continues to warn small businesses about aggressive promoters encouraging filing potentially ineligible claims. The IRS urges small businesses to check with a trusted tax professional about ERC instead of relying on a promotion company.
The steps include a moratorium on processing new ERC claims through at least the year’s end to prevent further abuse from predatory promoters using the ERC to scam businesses and organizations. Special withdrawal options and settlement initiatives are being prepared to help businesses that have been misled into claim the ERC. In addition, the IRS understands the valuable impact of the ERC credit and is working to process valid ERC claims filed before the moratorium, but with increased scrutiny.
New resources to help businesses navigate complex ERC
Be aware of the warning signs of aggressive promotion for the ERC. Aggressive tactics are a red flag.
Be sure to check IRS.gov/ERC for updates and ways to report a scam involving ERC, which is also sometimes called the Employee Retention Tax Credit or ERTC.
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