Employee Retention Credits: What the IRS Didn’t, Did, and Might Do



The deadlines for seeking Employee Retention Credits (“ERCs”) are fast approaching, large numbers of claims are being filed, and fears of widespread fraud abound. What is the solution? The IRS says pumping the proverbial brakes is the way to go. It recently imposed a “moratorium” of at least three months on processing future ERC claims. The IRS made several other important announcements, too. These include the start of “enhanced compliance reviews” on all ERC claims, a “special withdrawal option” for taxpayers with pending yet unpaid claims, and a future “settlement program” for taxpayers that previously received ERCs but did not really deserve them. This article, the latest in a multi-part series, explores these recent IRS actions, fitting them into the broader context of ERC events over the past three years and into the future.

Read the full article here.

About Hale E. Sheppard
HALE E. SHEPPARD, Esq. (B.S., M.A., J.D., LL.M., LL.M.T.) is a Shareholder in the Tax Controversy Section of Chamberlain Hrdlicka and Chair of the International Tax Group.

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