COVID-19 news and information

‘Tsunami’ of claims filed for employee retention credit almost 2 years after it ended caught the attention of the IRS. Experts say that required the IRS to take action to halt fraud.

The IRS issues a moratorium on new ERC claims processing through at least the end of the year and allows taxpayers to withdraw claims that have been filed but not processed.

Having made significant progress in the ongoing effort against fraudulent employee retention credit claims, IRS Commissioner Danny Werfel said the agency has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing.

The IRS issues final regulations that allow for the assessment of erroneous refunds of COVID-19 related paid sick leave, family leave, and employee retention credits.

With COVID-19 no longer considered a national emergency, the IRS will return to public hearings for proposed regulations published in the Federal Register beginning in May while keeping telephone access as an option.