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The ERC scam The ERC is a legitimate tax credit established to help businesses with the cost of keeping staff employed during the pandemic, enacted by the Coronavirus Aid, Relief, and Economic ...
Walloped by bogus claims for the pandemic-era Employee Retention Tax Credit (ERC), the IRS says it’s ramping up audits and criminal investigations of suspected fraud. The IRS has sent out 28,000 ...
Larry Gray, a CPA in Rolla, Missouri, was among the early voices warning that ERC fraud could become a major problem. He took to YouTube from his office in 2020, sounding the alarm. He also helped ...
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
The ERC was designed to help businesses retain employees during pandemic-era shutdowns, but it quickly became a magnet for fraud. Its complex eligibility rules allowed scammers to target small ...
Best practices • Don't enable the "use less secure apps" feature. • Don't reply to any SMS request asking for a verification code. • Don't respond to unsolicited emails or requests to send money.
While most junk email can seem like a minor annoyance, certain types of email can cause problems for not only you but other people you email. Sometimes these emails can contain dangerous viruses or malware that can infect your computer by downloading attached software, screensavers, photos, or offers for free products.
The agency has also found ERC-related fraud totaling around $3.4 billion and initiated 252 investigations involving another $2.8 billion in potential scams as of the end of July.. The IRS has also ...