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The Internal Revenue Service (IRS) is intensifying its crackdown on fraudulent claims for the pandemic-era Employee Retention Tax Credit (ERTC), as part of a broader effort to prevent the misuse of federal relief programs. In a recent announcement, the agency revealed that it has sent out 28,000 rejection letters to businesses suspected of submitting improper claims, potentially stopping up to $5 billion in fraudulent payments.
The ERTC was established as part of the COVID-19 relief efforts to help businesses retain employees during the economic downturn. However, the program has become a target for abuse, with numerous businesses. . .
