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IRS to examine pandemic-era credits

Posted on AllSides June 23rd, 2024
From The Right

NEW YORK — The Internal Revenue Service said a review of 1 million claims for the Employee Retention Credit representing $86 billion shows the “vast majority” are at risk of being improper. The ERC was designed to help businesses retain employees during pandemic-era shutdowns, but it quickly became a magnet for fraud. Its complex eligibility rules allowed scammers to target small businesses, offering help applying for the ERC for a fee — even if they didn’t qualify. About 10% to 20% of the 1 million claims show “clear signs of...

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https://bostonherald.com/2024/06/23/irs-to-examine-pandemic-era-credits

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