The IRS has released a set of frequently asked questions (FAQs) regarding the limitations on credits and refunds for Employee Retention Credits claimed for the third and fourth quarters of 2021 but filed after Jan. 31, 2024. The FAQs, found in Fact Sheet 2025-07, cover the general limitations, the criteria for timely filing, and available appeal rights where an ERC claim is denied. These provisions are part of the legislation enacted under the One, Big, Beautiful Bill. [IR-2025-106 (Oct. 22, 2025)]
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