Tax Credits and Incentives I SEPTEMBER 19, 2024

ERC Claim Processing Restart Is a Boon for Cash-Poor Business

In his new article for Bloomberg Tax, Jake Kacynski discusses how the IRS has restarted processing Employee Retention Credit (ERC) claims, aiming to address a backlog of 1.4 million unprocessed claims. Businesses with pending claims should await IRS notification, while those who wrongly received ERC funds can utilize the voluntary disclosure program to repay 85% without penalties. 

Read the full article here: https://bit.ly/4eaWfSa