IRS to Deny Billions in Improper Employee Retention Credit Claims
Detailed review identifies high-risk claims; legitimate claims to be processed slowly
- IRS plans to deny tens of thousands of high-risk Employee Retention Credit claims.
- Approximately 60-70% of claims are deemed to have an unacceptable level of risk.
- Low-risk claims will be processed, with payments expected this summer.
- IRS urges taxpayers to review guidelines and consider the withdrawal program if needed.
- Criminal investigations have been initiated into potentially fraudulent claims worth nearly $7 billion.
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