The IRS is renewing its efforts to alert business owners of misleading claims involving Employee Retention Credits (ERCs). Indeed, there continues to be a barrage of broadcast advertising, direct mail solicitations and online promotions about ERCs. “Aggressive promoters are wildly misrepresenting and exaggerating who can qualify for the credits,” the IRS said. In response, the IRS has increased compliance work and its Criminal Investigation division is working to identify fraud and promoters of fraudulent claims. Businesses caught improperly claiming ERCs may face action from the IRS and be subject to penalties and interest payments. For more information: https://bit.ly/43cSN49
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