What to know as IRS kicks off withdrawal option for pandemic-era small business tax credit

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

The IRS has announced a special withdrawal process for small businesses that wrongly claimed the employee retention tax credit. Here's what to know.

The IRS has announced a special withdrawal process for small businesses that wrongly claimed a pandemic-era tax break.

"I'm actually shocked at some of the horror stories we've been seeing," said Hylton, who is a former IRS commissioner for the agency's small business and self-employed division.If you've neither received an employee retention credit refund nor cashed your ERC refund check, there's still time to withdraw your filing, according to the agency.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines