IRS Urges Congress to Eliminate Employee Retention Credit as Fraudulent Claims Escalate

Thursday, 20 June 2024, 20:00
The IRS has alerted Congress about the escalating number of fraudulent claims related to the employee retention credit. The agency is pushing for the removal of this benefit to curb the rising incidents of misuse. This move aims to protect the integrity of the credit system and prevent losses due to the current 'gold rush' of bogus claims.
The Hill
IRS Urges Congress to Eliminate Employee Retention Credit as Fraudulent Claims Escalate

IRS Calls for Action

The IRS has raised concerns about the spike in questionable claims linked to the employee retention credit.

Fraudulent Activity

Recent reports have highlighted a surge in 'gold rush' behavior surrounding these claims.

  • Protecting Integrity: The IRS is looking to safeguard the credit system from abuse.
  • Prevention Measures: Removing the credit could deter further fraudulent activities.
Do you want to advertise here? Contact us

Related posts

Do you want to advertise here? Contact us
Do you want to advertise here? Contact us
Newsletter

We carefully select news from the world of finance and publish it for our users. We understand the importance of reliable and up-to-date information for people in the financial world. Do you want to receive news in a convenient format and always have it at hand — subscribe to our newsletter and make your analytical work more effective.

Subscribe