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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 ...
The IRS has added a new entry to its "Dirty Dozen" list of tax scams, this one involving misleading promotional claims tied to Employee Retention Credits (ERCs). The agency termed the scam "deeply...
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]
Thousands of people have lost millions of dollars to tax scams in recent years, according to the IRS. The problem is so prevalent that the IRS compiles an annual "Dirty Dozen" list of the worst tax...
In this scam, taxpayers receive a cardboard envelope from a delivery service, which includes a fake letter from the “IRS” about an unclaimed refund and asks for personal and financial information.
At Lifetime Advisors, Long encouraged clients to apply for a controversial tax credit, the Employee Retention Credit (ERC), for which the IRS temporarily stopped accepting applications for due to a large number of firms making improper claims. Lifetime Advisors took an expansive view of eligibility for the tax credit, sometimes even challenging ...
The U.S. government issued a series of stimulus payments in 2020 and 2021 to help Americans get through the coronavirus pandemic. By law, the last of those payments was issued no later than Dec ...
Potentially Dangerous Taxpayer (PDT) [1] is a government designation assigned by the Internal Revenue Service (IRS) to taxpayers of the United States of America whom IRS officials claim have demonstrated a capacity for violence against employees of the IRS or other government agencies, contractors or their families.