![]() ![]() People and businesses can avoid this scheme, and by not filing improper claims in the first place. The IRS Office of Professional Responsibility is working on additional guidance for the tax professional community that will be available in the near future. Tax professionals note they continue to be pressured by people wanting to claim credits improperly. The IRS has been warning about this scheme since last fall, but there continue to be attempts to claim the ERC during the 2023 tax filing season. People need to think twice before claiming this." The IRS is actively auditing and conducting criminal investigations related to these false claims. If the tax professional they're using raises questions about the accuracy of the Employee Retention Credit claim, people should listen to their advice. "Anyone who is considering claiming this credit needs to carefully review the guidelines. "While this is a legitimate credit that has provided a financial lifeline to millions of businesses, there continue to be promoters who aggressively mislead people and businesses into thinking they can claim these credits," said Acting IRS Commissioner Doug O'Donnell. ![]() And the promoters may not inform taxpayers that wage deductions claimed on the business' federal income tax return must be reduced by the amount of the credit. ![]() These promoters charge large upfront fees or a fee that is contingent on the amount of the refund. The IRS and tax professionals continue to see third parties aggressively promoting these ERC schemes on radio and online. WASHINGTON - The Internal Revenue Service today issued a renewed warning urging people to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |