November 03, 2022
Warning of ERC Credit Claims
MM Clients:
Recently we have seen an increase in advertising and solicitation from companies offering services to claim money through the Employee Retention Credit (ERC). Some companies appear to be pushing the boundaries of the program to claim this payroll tax refund. The IRS recently released a memo warning of this practice. The last line of the memo reads “Improperly claiming the ERC could result in taxpayers being required to repay the credit along with penalties and interest.”
If you are considering the ERC, we recommend you carefully review the ERC program and have a vetting process for any company that is offering ERC services.
As your accounting partner we would be happy to speak with you about the ERC.
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