Attention Businesses Who Claimed the ERC! The Internal Revenue Service is cracking down on improper Employee Retention Credit (ERC) claims. They've identified new red flags and are urging businesses to review their filings. Remember, it's always better to be safe than sorry. Let Occams Advisory help you navigate the complexities of the ERC and ensure your claims are accurate. Check out the full article from IRS here: https://lnkd.in/ev4iRk8i #IRSWarning #ERC #EmployeeRetentionCredit #TaxCompliance #Business #TaxProfessional #IRS #Audit #Penalty #TaxTips
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2024 Emerging Leader (NYSSCPA) | Board Member | Trusted CFO Advisor | Expert in ERC Advisory Services
🚨 Important Update for Business Owners! 🚨 The IRS has issued new guidance on the Employee Retention Credit (ERC), highlighting additional warning signs of incorrect claims. To avoid potential penalties, interest, or audits, it's crucial to proactively address any erroneous claims. If you have questions about how this might affect your business or need assistance with ERC-related issues, feel free to reach out! #EmployeeRetentionCredit #ERC #IRS https://lnkd.in/eCmg-_6b
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit
irs.gov
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Stay informed and compliant with the latest IRS guidance on the Employee Retention Credit (ERC). The IRS has highlighted new warning signs of incorrect claims, making it essential to address any potential errors to avoid penalties, interest, or audits. At Wiss, we're here to help! If you have any questions or need assistance with ERC-related issues, don't hesitate to reach out. #wiss #EmployeeRetentionCredit #ERC #IRS
2024 Emerging Leader (NYSSCPA) | Board Member | Trusted CFO Advisor | Expert in ERC Advisory Services
🚨 Important Update for Business Owners! 🚨 The IRS has issued new guidance on the Employee Retention Credit (ERC), highlighting additional warning signs of incorrect claims. To avoid potential penalties, interest, or audits, it's crucial to proactively address any erroneous claims. If you have questions about how this might affect your business or need assistance with ERC-related issues, feel free to reach out! #EmployeeRetentionCredit #ERC #IRS https://lnkd.in/eCmg-_6b
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit
irs.gov
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"🚨 Attention Business Owners! 🚨 The IRS has just released important information about warning signs of incorrect claims for the Employee Retention Credit (ERC). It’s crucial to stay informed and ensure your claims are accurate to avoid penalties, interest, and audits. The IRS urges businesses to proactively resolve any erroneous claims. Staying compliant not only saves you from potential headaches but also keeps your business on a solid financial footing. 🔗 Check out the full article for all the details and protect your business today! 👉 https://lnkd.in/ev4iRk8i #BusinessTips #TaxTuesday #ERC #StayInformed #IRSUpdates"
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit | Internal Revenue Service
irs.gov
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The IRS is ramping up its efforts on Employee Retention Credit (ERC) claims and has issued five new warning signs for incorrect submissions. If your business has a pending or approved ERC claim, now is the time to review it carefully with a trusted tax professional to avoid costly errors and potential penalties. Stay informed and protect your business!
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit
irs.gov
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The Internal Revenue Service announced additional actions to help small businesses and prevent improper payments in the Employee Retention Credit (ERC) program, including accelerating more payments and continuing compliance work on the complex pandemic-era credit that was flooded with claims following misleading marketing. #erc #refund #tax #employeeretentioncredit #cpa #accounting #accountingfirms #taxpreparation #taxprofessionals #sndjglobal
IRS moves forward with Employee Retention Credit claims: Agency accelerates work on complex credit as more payments move into processing; vigilance, monitoring continues on potentially improper claims
irs.gov
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Helping employees and companies by understanding their needs and goals. Realizing that every person and situation is different, there is no cookie cutter approach. Finding the right fit sets everyone up for success.
Below is an update on the ERC voluntary disclosure program
The IRS has reopened the ERC voluntary disclosure program thru 11/22/24 to give businesses another opportunity to correct improper employee retention credit payments at a 15% discount and avoid future audits, penalties and interest. The IRS urges businesses with claims that show warning sign indicators to review eligibility requirements and talk to a trusted tax professional to determine if the disclosure program is a good option for them. https://lnkd.in/gSTWCfxD
IRS reopens Voluntary Disclosure Program to help businesses with problematic Employee Retention Credit claims; sending up to 30,000 letters to address more than $1 billion in errant claims
irs.gov
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Audit Partner | SEC & PCAOB | Trusted Advisor in Regulatory Compliance and Strategic Auditing
Important Update for Businesses: IRS Shifts Approach on Employee Retention Credit (ERC) Claims. The IRS has announced a significant change in processing ERC claims filed after the initial September 14, 2023 moratorium. Claims filed between Sept 14, 2023, and Jan 31, 2024, will now be "judiciously processed." The focus will be on highest and lowest risk claims, and some claims in this period may be processed if there's a clear basis for payment or denial. If you filed after Sept 14, 2023, your claim might be processed, but processing is selective and not guaranteed for all claims. The IRS is balancing support for legitimate businesses with preventing improper payments. If you filed an ERC claim during this period, stay alert for potential IRS communication. Ensure all your documentation is in order, and feel free to reach out if you have concerns. #TaxUpdate #EmployeeRetentionCredit #BusinessNews #IRS
IRS moves forward with Employee Retention Credit claims: Agency accelerates work on complex credit as more payments move into processing; vigilance, monitoring continues on potentially improper claims
irs.gov
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Don't overlook these 5 crucial warning signs of incorrect Employee Retention Credit claims shared by IRS. Act proactively to resolve any erroneous claim and avoid penalties & audits. Stay secure, stay updated! Learn more here: https://bit.ly/3Wt5rd5 🧾🔎🚫 #IRSUpdate #EmployeeRetentionCredit #AuditAlert
IRS shares more warning signs of incorrect claims for the Employee Rete
irs.gov
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IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit https://ow.ly/lG6E50SLiB4 #BradstreetCPAs #accounting #IRS #ERC #audit
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit | Internal Revenue Service
irs.gov
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IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit https://ow.ly/AN3N50SLiB6 #BradstreetCPAs #accounting #IRS #ERC #audit
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit | Internal Revenue Service
irs.gov
