The IRS has announced that it’s planning to launch a compliance program for taxpayers who’ve received Employee Retention Tax Credit (ERTC) payments in error. The program is expected to roll out by year end. The problem of fraudulent ERTC claims has been well documented. Indeed, the IRS issued a moratorium (currently through year end) on the processing of ERTC claims due to a high volume of fraud. The IRS is asking taxpayers who received ERTC payments, only to later determine that they weren’t entitled to them, not to spend the money. Stay tuned for additional details from the IRS on this program in the coming weeks. In the meantime, contact us with any questions regarding the ERTC.
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