The IRS has alerted taxpayers to fraudulent tax schemes on social media promoting Fuel Tax Credits and the Sick and Family Leave Credits. These posts have caused thousands of taxpayers to wrongly claim such credits which can result in large penalties to taxpayers. To...
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ERC
Where There’s a Tax Credit, There’s a Criminal
The Employee Retention Credit (ERC), a program created to help struggling small businesses during the pandemic, is just one of several IRS credits fraught with abuse, whether by criminals or well-intended taxpayers who are confused by the rules. IRS Commissioner,...
National Taxpayer Advocate Issues Report to Congress
Erin Collins, National Taxpayer Advocate, has issued her annual report to congress noting the IRS has made significant progress over the past two years improving the taxpayer experience. She cites continued funding as a critical need to continue its service to...
The Deadline to Voluntarily Disclose Erroneously Claimed Employee Retention Credits is Fast Approaching!
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...
