IRS watchdog pushes for transparency on pandemic-era small business tax credit backlog

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

United States News News

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

With a backlog of about 1.4 million unprocessed employee retention credit claims, the National Taxpayer Advocate is pushing the IRS to expedite legit filings.

With a backlog of about 1.4 million unprocessed employee retention credit, or ERC, claims, the National Taxpayer Advocate is pushing the IRS to expedite legitimate filings.

But after a wave of"questionable claims," the IRS stopped processing new ERC claims in September and nearly all filings sent before the moratorium remain unworked.But the prolonged processing delays by the IRS are"harming taxpayers with valid ERC claims," as many have already waited a year or longer, National Taxpayer Advocate"It’s time for the IRS to be transparent on how and when it plans to move forward addressing these ERC claims," she wrote.

 

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

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