Stambaugh Ness’ Post

📢 Attention business owners! Concerned about the validity of your Employee Retention Tax Credit (ERTC) claim? The IRS is now offering a withdrawal option! Avoid potential consequences and consult trusted tax professionals to review and withdraw your claim if necessary. Don't risk penalties or falling for fraudulent schemes. Let us help you navigate the process. #ERTC #TaxCredit #WithdrawalOption https://hubs.li/Q026VvBC0

IRS offers a withdrawal option to businesses that claimed ERTCs: Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses' concerns about the validity of their claims for this valuable, but complex, pandemic-related credit — and the potential consequences of an invalid claim. In response, the IRS has rolled out a new process that certain employers can use to withdraw their claims. Fraudsters jump on the ERTC The ERTC is a refundable tax credit intended... https://bit.ly/3QgnbFh

IRS offers a withdrawal option to businesses that claimed ERTCs: Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses' concerns about the validity of their claims for this valuable, but complex, pandemic-related credit — and the potential consequences of an invalid claim. In response, the IRS has rolled out a new process that certain employers can use to withdraw their claims. Fraudsters jump on the ERTC The ERTC is a refundable tax credit intended... https://bit.ly/3QgnbFh

📢 Attention Business Owners! 📢 We have some exciting news for you regarding the Employee Retention Tax Credit (ERTC)! The IRS has just introduced a fantastic opportunity that allows businesses to withdraw any unprocessed ERTC claims if they are deemed invalid. 💼💪 🚀 This path created by the IRS not only ensures transparency and accuracy but also provides a fair chance for businesses to rectify any unintentional errors or misunderstandings. It's a game-changer that can potentially save your business time, money, and unnecessary hassle! 🌟 💡 So, if you've recently submitted an ERTC claim and have concerns about its validity, worry not! This new initiative by the IRS is here to support you. Take advantage of this opportunity to review and modify your claims, ensuring compliance and maximizing your benefits! 📊💰 Remember, staying up-to-date with the latest regulations and opportunities can make a significant difference in the success of your business. 💼✨ #IRS #ERTC #BusinessOpportunity #ComplianceMatters #TaxCredit #MaximizeBenefits #StayInformed #BusinessSuccess https://hubs.ly/Q026WDy20

The Employee Retention Tax Credit (#ERTC) continues to be a complex topic, making it difficult for businesses to stay informed about their options. Kelly Chambers revisits the ERTC program, shedding light on recent changes, ongoing challenges, and actionable steps for qualifying businesses. 🌟Read the full #StambaughNess #blog for detailed insights and guidance. #EmployeeRetentionTaxCredit #TaxCredits #TaxAdvisory #IRSUpdates

As we're just over halfway through the window to participate in the #ERC Voluntary Disclosure Program, the IRS shares 7 warning signs #ERTC claims may be incorrect: 1. Too many quarters being claimed 2. Government orders that don't qualify 3. Too many employees and wrong calculations 4. Business citing supply chain issues 5. Business claiming ERC for too much of a tax period 6. Business didn't pay wages or didn't exist during eligibility period 7. Promoter says there's nothing to lose Read the IRS press release below. #employeeretentioncredit #taxcredits #cpa #cpafrim #taxcontroversy https://lnkd.in/eGUByise

Breaking News----- Pause in ERC Claims. To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros. Effective yesterday, September 14, 2023, the IRS has paused the processing of new Employee Retention Credit (ERC) claims. The IRS confirmed in their announcement that they will not process any new ERC refund claims. Claims submitted before this announcement will still be processed by the IRS; however, there will be significant delays in processing times, extending to up to 180 days from the previous 90 days, due to enhanced compliance reviews on all submissions. The IRS is working in tandem with the Justice Department to uncover and fight the unscrupulous business dealings, abuse and fraud that is occurring with actors in the ERC world. The IRS implores businesses to seek out trusted tax professionals and companies to assist in the processing of legitimate ERC credits. If you have any questions regarding this or need assistance with an ERC submission, please contact me. Paychex is one of the good guys and we have numerous quality control systems in place and can navigate the ERC waters with you. #ERC #EmployeeRetentionCredit #Payroll #IRS #TaxNews #TaxUpdate #Paychex https://lnkd.in/gPAyiWA8

Great article from Yahoo Finance highlighting the IRS crackdown on potential employee retention tax credit (ERTC) abuse. A quote from Howard Makler resonated: “While I can't speak to the process of others in the space, the IRS is right to address those that have not taken a data-driven and compliant approach. As a compliant player in this space, we are mirroring the IRS moratorium.” #SMBs https://lnkd.in/gugQcZAX

IRS offers a withdrawal option to businesses that claimed ERTCs: Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses' concerns about the validity of their claims for this valuable, but complex, pandemic-related credit — and the potential consequences of an invalid claim. In response, the IRS has rolled out a new process that certain employers can use to […] https://bit.ly/3STXSMm