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If your business erroneously or fraudulently claimed the Employee Retention Credit (ERC), it could face very serious consequences. While the IRS offered two ERC-related voluntary disclosure programs, the time to voluntarily come forward for both programs has now passed.
The Employee Retention Credit (ERC) is a tax incentive introduced by the U.S. government to support businesses during challenging economic periods, such as the COVID-19 pandemic. While it was designed to encourage employers to retain their workforce by providing refundable tax credits based on wages paid to employees, the IRS has become increasingly concerned about potential abuse regarding the credit.
If you suspect that this may be you, but aren't sure, please reach out to us at Liberty Tax Defenders for a FREE consultation.
