Employee Retention Credits: IRS Pauses Processing Until 2024
By Leslie Boyd, Managing Principal, Manufacturing
With fraudulent claims on the rise, the IRS announced the processing of new claims for Employee Retention Credits (ERCs) will be suspended until the end of the year. With this action the IRS is buying time to determine the validity of current claims and weed out claims of concern.
In this article published by CLA’s Tax Professionals, The IRS is serious about cracking down on fraudulent ERC claims, you’ll get answers to questions including:
- Can manufacturers still file claims?
- What to consider when filing claims?
- What is the impact on wait times?
- What actions can be considered if there are concerns about a questionable provider who filed a claim?
If you need help navigating your options for an ERC claim in flight, let’s talk.
Jennifer Clement is an executive sales and marketing leader specializing in value creation for the C-suite. In her current role at CLA, Jennifer collaborates on strategy with executives of global manufacturing and distribution companies to accelerate results. Previously Jennifer served as a Global Business Acceleration Leader for Complete Manufacturing and Distribution (CMD). During her time with CMD, Jennifer lived and worked in Asia from 2015-2019. Prior to CMD, she spent 10 years in senior care technology. Jennifer started her career at Johnson Controls (JCI) and spent nine years in leadership roles; followed by five years at Rockwell Automation (ROK) leading c-suite strategy and marketing operations.
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