Newsletters

IRS Takes Action Against Dubious ERC Claims to Prevent Improper Payments, IR-2023-230

The IRS has intensified its efforts to address questionable dubious Employee Retention Credit (ERC) claims, sending over 20,000 letters to taxpayers about disallowed claims targeting entities without a valid existence or paid employees during the eligibility period. This move aims to curb improper payments to ineligible entities, responding to misleading marketing campaigns targeting small businesses. The IRS has also offered a special withdrawal program for those with pending claims and plans to launch a voluntary disclosure program later this month for recipients of questionable payments to avoid future IRS actions.

Due to concerns over aggressive ERC marketing, the IRS has placed a moratorium on processing new ERC claims until at least the end of 2023, starting from September 14. When properly claimed, the ERC, a refundable tax credit, designed for businesses that continued paying employees during the COVID-19 pandemic, which experienced either a full or partial suspension of operations due to a government order or a significant decline in gross receipts within the eligibility periods. Further, the IRS has issued 20,000 letters disallowing claims in two identified problem areas related to the ERC:

The IRS has further reminded that, it is currently accepting and processing requests to withdraw a taxpayer’s full ERC claim under the special withdrawal process, option is made available to certain employers to withdraw their ERC claim to avoid future repayment, interest, and penalties. This option is designed to assist those who, under pressure or misinformation from ERC marketers, filed ineligible claims. The IRS cautions taxpayers to exercise extreme caution due to ongoing aggressive tactics by marketers and scammers. Additionally, the IRS advises individuals who submitted claims to review ERC requirements and consult with a trusted tax professional regarding eligibility amid misleading marketing around the credit.

2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)

The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]

Read More
2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)

IRS Introduces New Measures to Combat Tax Scams During 2025 Filing Season (IR-2025-12)

The IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]

Read More
IRS Introduces New Measures to Combat Tax Scams During 2025 Filing Season (IR-2025-12)

IRS Reminds Taxpayers of Disaster Deadlines (IR-2025-1)

The IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]

Read More
IRS Reminds Taxpayers of Disaster Deadlines (IR-2025-1)

IRS to Issue Automatic Recovery Rebate Credit Payments for 2021 Tax Year (IR-2024-314)

The IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]

Read More
IRS to Issue Automatic Recovery Rebate Credit Payments for 2021 Tax Year (IR-2024-314)

FL - Motor vehicle sales tax rates by state issued

Florida has issued motor vehicle sales tax rates by state as of January 15, 2025. Florida law allows a partial […]

Read More
FL - Motor vehicle sales tax rates by state issued

FL - 2025 governmental leasehold intangible tax valuation factor table released

For purposes of calculating the 2025 intangible personal property tax on governmental leaseholds, the Florida Department of Revenue has issued […]

Read More
FL - 2025 governmental leasehold intangible tax valuation factor table released

Security Summit Urges Updating Digital Security to Prevent Identity Theft, IR-2024-306

The IRS, along with Security Summit partners, urged businesses and individual taxpayers to update their security measures and practices to protect against […]

Read More
Security Summit Urges Updating Digital Security to Prevent Identity Theft, IR-2024-306

2024 Required Amendments List Issued, Notice 2024-82

The IRS has issued its 2024 Required Amendments List (2024 RA List) for individually designed employee retirement plans. RA Lists […]

Read More
2024 Required Amendments List Issued, Notice 2024-82

IRS Reminds Low- and Moderate-Income Taxpayers of Saver’s Credit to Save Retirement Savings in 2025 and Future Years, IR-2024-298

The IRS reminded low- and moderate-income taxpayers to save for retirement now and possibly earn a tax credit in 2025 […]

Read More
IRS Reminds Low- and Moderate-Income Taxpayers of Saver’s Credit to Save Retirement Savings in 2025 and Future Years, IR-2024-298

IRS and Security Summit Partners Warn Against Bad Tax Advice on Social Media, IR-2024-302

The IRS and Security Summit partners issued a consumer alert regarding the increasing risk of misleading tax advice on social media, which […]

Read More
IRS and Security Summit Partners Warn Against Bad Tax Advice on Social Media, IR-2024-302