In August 2022, the Government Accountability Office published a report finding that only 7% of eligible businesses have claimed COVID related government stimulus, including the Employee Retention Credit (ERC). Shortly thereafter, the IRS began issuing warnings of “promoters” charging large fees for oftentimes misleading advice on this tax credit. Learn about some of the popular misconceptions regarding ERCs and why they exist, what a supportable ERC file includes, how to identify potentially unsupportable filings, and what steps should be taken to remediate improper claims.
