IRS News Release: IRS Dirty Dozen List Adds Employee Retention Credits Promotions (§38)

As a new entry in the first day of the annual Dirty Dozen list of tax scams, the IRS added widely circulating promoter claims involving Employee Retention Credits (ERCs). The IRS is stepping up enforcement action involving these ERC claims, and people considering filing for these claims – only valid during the pandemic for a limited group of businesses – should be aware they are ultimately responsible for the accuracy of the information on their tax return, and the IRS Criminal Investigation Division is on the lookout for promoters of fraudulent claims for credits. Taxpayers should mail or fax a ...