Why does the Employee Retention Tax Credit still matter? Two reasons. First, it has been a popular credit that still has implications for employers and taxpayers. Second? Ongoing scams and fraud, and the resulting IRS moratorium.
This course provides an overview of the Employee Retention Tax Credit, and provides specific information on IRS efforts to stem the rise of fraud associated with the credit, including imposing a moratorium on ERTC claims, announcing settlement and withdrawal procedures, and the providing educational material on the credit.
After completing this course, you will be able to:
- Identify the type of taxpayers that qualify for the employee retention tax credit
- Specify how the Employee Retention Tax Credit is calculated and reported
- Identify the ways in which some promoters have aggressively promoted the Employee Retention Tax Credit for purposes of scamming taxpayers and the IRS
- Understand tax professionals’ professional responsibility requirements with respect to tax consulting and preparation work involving Employee Retention Tax Credit claims
