IRS Orders Immediate Stop to New Employee Retention Credit Processing
To protect taxpayers from scams, the IRS has announced that it will not review or process any ERC claims received on or after Sept. 14 through at least the end of 2023. Furthermore, the IRS is encouraging taxpayers with existing claims to withdraw their claims if they believe they are ineligible.
The IRS has provided an ERC Eligibility Checklist to help small businesses have a better understanding if they qualify. For those businesses that already have a processed claim and are ineligible, the IRS will initiate a settlement program.