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
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
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
