Tax Strategies Resources
Refundable Tax Credits
The IRS warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit.
These third parties often may not inform taxpayers that wage deductions claimed on the business' federal income tax return must be reduced by the amount of the credit.