IRS Halts Pandemic-Era Small-Business Tax Break Following ‘Flood’ Of Potential Fraud Claims | ZeroHedge
Authored by Naveen Athrappully via The Epoch Times (emphasis ours),
The Internal Revenue Service (IRS) has announced pausing a small-business tax credit program from the pandemic era for the remainder of the year following worries that ineligible claims are being filed.
The Employee Retention Credit (ERC) was instituted during the COVID-19 pandemic to encourage small businesses to retain their employees on payroll. It offered a refundable tax credit for businesses that (more…)