Act now to resolve incorrect ERC claims before March 22
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Issue Number: 2024-05Check Employee Retention Credits and resolve incorrect claims before March 22Every business that filed for the Employee Retention Credit (ERC) should act now to make sure they didn’t incorrectly claim the credit. The IRS has two limited-time options to help businesses voluntarily resolve incorrect claims:
Some promoters misled businesses into improperly filing for the credit when the business didn’t qualify to claim it. Some promoter groups called the credit by another name, such as a grant, business stimulus payment, government relief or other names. Even if terms such as Employee Retention Credit or Employee Retention Tax Credit don’t sound familiar, businesses should still review their records to make sure they didn’t incorrectly claim this pandemic-era credit. ERC resources
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