Questionable ERC could mean trouble for CPAs
The Internal Revenue Service announced in March that its compliance efforts related to the Employee Retention Credit had exceeded $1 billion. The agency specified that “more than 12,000 entities filed over 22,000 claims that were improper and resulted in $572
Employers Must Re-examine Employee Retention Credit (ERC) Claims
The Employee Retention Credit (ERC) offered financial relief to businesses struggling due to COVID-19. However, many ineligible applicants filed claims, or requested excessive amounts, often misled by aggressive marketing tactics. IRS Crackdown The IRS is now aggressively focusing on these
IRS Enforcement Campaign Targets High-Income Non-Filers
Recent funding increases through the Inflation Reduction Act (IRA) have revitalized the IRS’s enforcement capabilities. A new campaign signals this shift, targeting high-income taxpayers who failed to file federal income tax returns. This initiative represents a strategic pivot for the