IRS Steps Up Efforts on Employee Retention Credit Program

IRS Enhances Employee Retention Credit Program

The Internal Revenue Service (IRS) is taking significant steps to improve the Employee Retention Credit (ERC) program. This initiative aims to support small businesses and mitigate the risks associated with improper payments.

Key Actions Announced

• The IRS is accelerating payment processing timelines for eligible claims.
• Continuous monitoring and compliance measures are in place to address the surge in claims driven by misleading marketing.
• This initiative responds to concerns over the complexities of the pandemic-era credit program.

The IRS remains committed to ensuring that the ERC program serves its intended purpose while safeguarding against fraudulent claims.