IRS Keeps Hold On Employee Retention Credit Claims to Protect Small Businesses from Fraud

While the IRS has new ERC claims on pause and works to investigate possible fraud, business owners still have the opportunity to protect themselves from potential civil and criminal penalties.

5 minute read June 01, 2024 at 12:07 AM
By
Julie Potts
IRS Keeps Hold On Employee Retention Credit Claims to Protect Small Businesses from Fraud

Over the past year, the Internal Revenue Service (IRS) has discovered billions of dollars in potentially fraudulent Employee Retention Credit (ERC) claims. Due to the high number of claims from ineligible employers, the IRS put an immediate hold on processing new claims for the ERC in September 2023.

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