News Formal

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

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States 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.This procedure is banned in the US. Why is it a hot topic in fight over Ohio's abortion amendment? "It's a mulligan moment," said Dean Zerbe, national managing director at Alliantgroup. He said the withdrawal option is an opportunity to fix mistakes before the IRS catches them.

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:

 /  🏆 319. in US
 

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

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What to know as IRS kicks off withdrawal option for pandemic-era small business tax creditThe IRS has announced a special withdrawal process for small businesses that wrongly claimed the employee retention tax credit. Here's what to know.
Source: CNBC - 🏆 12. / 72 Read more »