IRS Issues FAQs About Pandemic-Era Credits Under GOP Tax Law

The IRS on Wednesday issued frequently asked questions addressing employee retention credits under the compliance provisions of the GOP tax law enacted in July.

The FAQs relate to the limitation on credits and refunds for employee retention credits claimed for the third and fourth quarters of 2021 that were filed after Jan. 31, 2024—a limit enacted under the GOP tax law. The FAQs discuss the limitation generally, when a claim is considered timely filed, and what appeals rights are available if a credit claimed on a return is disallowed.

The IRS provided additional information about taxpayer reliance on FAQs its ...