Now is the time for businesses to review their tax returns to make sure they did not claim the Employee Retention Credit (ERC) in error. The ERC was a focal point for many scammers spreading misinformation in the 2021 tax season, leading businesses to believe they qualified for this credit, when they in fact did not. The IRS identified this issue and gave businesses until November 22nd to voluntarily disclose the error and refund the credit, with no penalties or interest.
To learn more about the ERC Voluntary Disclosure Program, click here.
