Citing rampant 'scams,' IRS imposes ERC moratorium.
- Resource Type
- Article
- Authors
- Geiszler, Matthew; McKinley, John; Arnold, Austin
- Source
- Journal of Accountancy; Dec2023, p30-34, 5p
- Subject
- SWINDLERS & swindling
CRIMINAL procedure
EMPLOYEE retention
CRIMINAL investigation
- Language
- ISSN
- 00218448
The article reports that the Internal Revenue Service (IRS) has imposed a moratorium on processing claims for the Employee Retention Credit (ERC) until at least Dec. 31, 2023, citing widespread scams. The IRS emphasizes its collaboration with the Justice Department to pursue criminal cases against hundreds of taxpayers and provides specific guidance on situations causing incorrect ERC claims, particularly addressing supply chain disruptions and eligibility criteria.