40 \\ IRS Freezes ERC Claims: What Small Businesses Must Know About Tax Credit Fraud
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Thu 21 Sep 2023
- Episode Link
- https://smallbusinessfinance.podbean.com/e/40-employee-retention-credit-warning-irs-update/
In this episode, we break down the IRS’s sudden freeze on processing Employer Retention Credit (ERC) claims and what it means for small business owners. You’ll learn why the IRS is cracking down on ERC fraud, how to know if your business truly qualifies, and the three main criteria used for eligibility. We discuss the risks of working with aggressive ERC companies, how to handle existing claims, and what steps to take if you’ve already received a refund you may not have been entitled to. If you’ve been contacted by a third-party firm about ERC or are worried about your claim, this episode gives you clarity, tax advice, and next steps to protect yourself and your business.
Next Steps:
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