IRS Maintains ERC Moratorium Despite Pressure
The Internal Revenue Service (IRS) has announced it will continue its moratorium on processing new Employee Retention Credit (ERC) claims, citing concerns over potential fraud and improper claims. This decision comes despite mounting pressure from various stakeholders to lift the suspension and one lawsuit currently pending in Arizona District Court.
Key Points for Tax Preparers:
- Ongoing Backlog: The IRS currently faces a backlog of 1.4 million ERC claims, with new submissions arriving at a rate of 17,000 per week ...