IRS Allows Cancellation of Erroneous Claims
IRS Allows Cancellation of Erroneous Claims
As the IRS continues to deal with issues involving the Employee Retention Credit (ERC), the agency is offering businesses that filed dubious or erroneous claims several new ways to withdraw those claims without penalty. The new programs are part of an ongoing IRS response to aggressive marketing schemes that misled many employers to file large ERC claims—sometimes for hundreds of thousands of dollars—resulting in credits and refunds they were not qualified to receive.
Unpacking the ERC