Internal Revenue Service has placed an immediate moratorium on processing new Employee Retention Credit (ERC) claims following growing concerns that a substantial share of these claims are ineligible and putting businesses at financial risk by being scammed by aggressive promoters. The moratorium will last until at least Dec. 31, 2023.
The IRS continues to work on previously filed ERC claims received prior to the moratorium but renewed a reminder that increased fraud concerns means processing times will be longer.
If you are concerned about an existing ERC claim, or wonder if you would qualify for a new ERC claim once the moratorium is lifted, please contact a ShindelRock tax professional.
