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  2. Taxpayer woes: Waiting nearly two years for refunds after ID ...

    www.aol.com/taxpayer-woes-waiting-nearly-two...

    Congress created the complex employee retention credit to help struggling businesses and exempt organizations recover from losses during the COVID-19 pandemic. ... the IRS gave an update on the ...

  3. Employee Retention Credit - Wikipedia

    en.wikipedia.org/wiki/Employee_Retention_Credit

    The Employee Retention Credit is equal to 50 percent of qualified wages paid to eligible employees between March 13, 2020, and December 31, 2020. [14] Eligible employee is defined differently depending on the size of the employer. If the employer averaged 100 or fewer full-time employees [h] during 2019, then all of its employees are eligible ...

  4. IRS to start ‘intensifying audits’ on bogus employee ...

    www.aol.com/irs-start-intensifying-audits-bogus...

    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 ...

  5. IRS has improved taxpayer services but is slow to resolve ID ...

    www.aol.com/irs-improved-taxpayer-services-slow...

    The Employee Retention Credit, or ERC, was designed to help businesses retain employees during pandemic-era shutdowns, but it quickly became a magnet for fraud. Its complex eligibility rules ...

  6. Tax Relief for American Families and Workers Act - Wikipedia

    en.wikipedia.org/wiki/Tax_Relief_for_American...

    In order to pay for the cost of the tax bill, a provision was included to halt the employee retention tax credit , a pandemic-era employer tax benefit that cost the federal government billions more than had been projected and has been considered as a magnet for fraud. The employee retention credit, created in 2020 and expanded in 2021, was ...

  7. The IRS is right to scrutinize pandemic-era employee ... - AOL

    www.aol.com/finance/irs-scrutinize-pandemic-era...

    Last month, the Internal Revenue Service (IRS) announced an extension of a pause on processing Employee Retention Credit (ERC) claims submitted after Sep. 14, 2023. The agency closely examined ERC ...

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