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ERC suspended: What happens next
Published 2 years, 10 months ago
Description
On Thursday, the IRS suspended the processing of new employee retention credit (ERC) claims to combat the prevalence of fraud. These measures will help protect small businesses and aim to stop fraud by promoters of ERC mills.
In this episode, Kris Esposito, Director — Tax Policy & Advocacy, AICPA & CIMA, joins April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, to discuss this important news development and break down the details of the announcement.
What you'll learn from this episode:
- How to find out if submitted claims have been processed (3:53).
- When recently submitted claims will be processed (4:41).
- How to talk to your clients about the IRS announcement (6:22).
- How a new resource can help (7:38).