Few letters have haunted the post-pandemic business world — and, by association with certain clients, accounting firms — like “ERC.”
The Employee Retention Credit was intended as a relief tool to help companies keep people on the payroll even while hammered by COVID shutdowns. Whether through their own greed or the pitches of hucksters, many business clients fudged their ERC applications, pocketed the money and hoped no one would notice.
The Internal Revenue Service did (after temporarily halting the processing of new ERC claims). Last fall, the agency started giving employers a way to
As the deadline clock ticks, the IRS has highlighted seven warning signs that an ERC claim may be questionable. (The agency also has an
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