Seven Warning Signs of Incorrect ERC Claims
By ISHAAN ANAND
In February, the IRS released a list of seven suspicious signs that a company’s Employee Retention Credit (ERC) claim may be questionable or incorrect, which could cause future problems with the IRS. Small businesses should carefully review these warning signs to determine if their claims must be resolved. The ERC, a pandemic-era credit, was meant to help small businesses, but corrupt promotors have deceived many businesses and misled them about the qualifications needed to claim the credit.