In response to well-documented fraudulent activities and scams targeting the Employee Retention Credit (ERC), what...
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Accounting
In response to welldocumented fraudulent activities and scams targeting the Employee Retention Credit ERC what steps has the IRS taken to ensure the programs integrity and assist legitimate businesses?
Enhanced the ERCs appeal to reduce scam opportunities by boosting legitimate benefit amounts.
Halted new ERC applications and tightened reviews of current claims to prevent and identify fraud.
Suggested that businesses engage with scammers to resolve fraudulent claims independently.
Restricted ERC eligibility to specific sectors for easier monitoring and decreased scam risks.
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