Understanding the Latest IRS Statement on the Employee Retention Credit (ERC)

Content Summary

In a move to protect honest small business owners from scams and aggressive marketing tactics, the Internal Revenue Service (IRS) has declared an immediate moratorium on processing new claims for the Employee Retention Credit (ERC) through at least the end of the year, starting September 14, 2023. The decision comes as the IRS, along with tax professionals and media reports, has expressed mounting concerns about the rising number of potentially ineligible ERC claims, putting businesses at financial risk. Learn more about this new move by the IRS and why it still makes sense to start the process now.

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