IRS Sits on 1.2 Million Covid-Era Claims as Filing Season Nears

Many businesses and tax-exempt organizations are still without their pandemic-era employee retention tax credit cash, with the IRS yet to process about 1.2 million claims, a new report to Congress found.

This latest update on processing those claims is current as of Oct. 26. The backlog, as of June 17, was at 1.4 million.

Though the IRS has recently processed several hundred thousand claims, many have been pending for over a year and with filing season fast approaching, ERC delays are expected to be even longer as the IRS shifts its resources, ...