As part of a continuing effort to address concerns with Employee Retention Credit claims, the IRS announced today the agency has started to update frequently asked questions on IRS.gov to help businesses and tax professionals navigate the complex credit. The IRS added 13 frequently asked questions to a special page about the Employee Retention Credit, or ERC. More information will be added in coming days.
The changes follow a series of concerns raised by tax professionals and others, including feedback IRS Commissioner Danny Werfel received at a special ERC roundtable at the Atlanta Tax Forum earlier this week. Tax professionals raised concerns about a number of unanswered questions that they are receiving from business clients regarding the credit.
