IRS clarifies employee retention credit guidance

by | Jul 26, 2023

ARTICLE | July 26, 2023

The IRS has recently released additional guidance on Employee Retention Tax Credit (ERC) claims, specifically addressing the impact of supply chain disruptions on eligibility for the credit. In a Generic Legal Advice Memorandum (GLAM) and IRS Notice, the IRS explores various scenarios and clarifies the requirements for employers to substantiate their claims. It emphasizes the need for documentation demonstrating the specific government orders that led to the suspension of operations and the inability to obtain goods or materials from alternate suppliers. Additionally, the IRS warns employers of the increasing examination activity and enforcement efforts to combat aggressive ERTC claims. To learn more about the IRS guidance on ERC claims and the consequences of erroneous refunds, click the link below.

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