As aggressive marketing continues, the IRS has renewed an alert for businesses to watch out for tell-tale signs of misleading claims involving the employee retention credit (ERC).
The IRS and tax professionals continue to see a barrage of aggressive broadcast advertising, direct mail solicitations and online promotions involving the ERC.
While the credit is real, aggressive promoters wildly misrepresent and exaggerate who can qualify for the ERC.
The IRS is stepping up audit and criminal investigation work involving these claims. The agency urges businesses and tax-exempt organizations applying for the credit to review the official requirements for the limited program carefully.
For spotting warning signs of a potential ERC scam, heed these red flags.