On Thursday, September 14, the IRS announced an immediate moratorium through at least to the end of the year on processing new claims for the Employeer Retention Credit, a pandemic-era relief program.
The IRS Commissioner ordered the moratorium following growing concerns inside the tax agency, from tax professionals as well as media reports that a substantial share of new claims from the aging program are ineligible and increasingly putting businesses at financial risk by being pressured and scammed by aggressive promoters and marketing.
They have compiled a series of handouts offering further information on this immediate action, how it affects you and your business, advice for taxpayers currently awaiting an ERC claim, as well as red flags to watch out for. You can access the IRS news release using this link IR-23-169 ERC Claim Processing, the eligibility checklist here ERC Eligibility Checklist and the scam warnings and red flags to watch out for using this link IR-23-170 ERC Scams Warning Signs.
More information is available on IRS.Gov/erc.