IRS Orders Immediate Stop to New Employee Retention Credit (ERC) Processing

has ordered an immediate stop to new ERC processing amid a surge of questionable claims, concerns from tax pros, and aggressive marketing to ineligible applicants, posing an unacceptable risk to businesses and the tax system. IRS has provided the following additional information and resources:
 
•    News release describing the status of ERC claims processing;
•    Warning signs of ERC scams; and
•    A checklist that contains if/then circumstances for determining ERC eligibility.

This week IRS also updated its Frequently Asked Questions about the ERC.