The IRS recently announced plans to deny tens of thousands of improperly filed “high-risk” Employee Retention Tax Credit (ERTC) claims. The tax agency will also begin a new round of processing lower-risk, legitimate claims, with initial payments to this group expected to be made later this summer. An IRS review revealed that 10% to 20% of ERTC claims fell into the high-risk category, meaning there were clear signs of the claims being erroneous. These claims, submitted during aggressive marketing campaigns, will be denied in the coming weeks. The review showed that up to 70% of claims had an unacceptable level of risk and will undergo further analysis. To learn more: https://bit.ly/3VAM3KU
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