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Employee Retention Tax Credit

August 02, 2023 10:31 PM | Shelly Dupre (Administrator)

The IRS recently issued a new set of answers to Frequently Asked Questions on the Employee Retention Tax Credit. The document, Frequently asked questions about the Employee Retention Credit, provides answers to 20 of the most common questions about eligibility and application for the ERTC. Working to beat back scam artists in “ERTC mills,” the first Q&A is succinct: “Q1. Is every business eligible for the Employee Retention Credit? A1. No.” The longest answer responds to the question: “How do I know if I'm being scammed by an ERC promoter?

The latest update to the ERTC FAQs comes at the end of an active week in combatting and highlighting the challenges raised by “ERTC mills,” the groups that have popped up (and appear on radio, TV, and pop-up ads) everywhere promising free money from the government. On Tuesday, IRS Commissioner Werfel reported on the tax agency’s success in closing the backlog of ERTC claims while ramping up enforcement efforts against scam artists.

Below are links to more news coverage of last week’s ERTC hearing:

ACTION ITEM: Do you have ideas for preventing fraud in the ERTC system? Please let the National Council of Nonprofits know so they can be included in follow-up statements to Congress.

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