The IRS is actively combating incorrect Employee Retention Credit (ERC) claims and is sending out over 20,000 letters to taxpayers whose claims have been disallowed due to their entities not existing or not having eligible employees during the claimed period. Taxpayers receiving these letters can contest the decision with supporting documentation or file an administrative appeal. The IRS is also launching a voluntary disclosure program for those who received questionable payments and want to rectify their claims ahead of potential IRS actions.
Tax Resolution 1st can assist individuals or entities receiving these disallowance letters by:
1. Reviewing the situation and documentation to support eligibility for the ERC.
2. Assisting in the administrative appeal process, advocating for the taxpayer's position.
3. Guiding individuals or entities through the voluntary disclosure program to proactively correct questionable claims and avoid future IRS actions or penalties.
4. Providing expert advice and guidance on tax compliance and ERC eligibility to prevent erroneous claims in the future.
Tax Resolution 1st can be invaluable in navigating the complexities of ERC claims, ensuring compliance with IRS regulations, and mitigating potential penalties or repayment obligations.
