IRS Warns of Employee Retention Credit Scams
Each year the IRS compiles the Dirty Dozen, a list of tax-related scams that consumers should be on the lookout for. First up this tax season, the IRS is highlighting Employee Retention Credits (ERCs) after observing intensified efforts to get ineligible people to claim the credit. Scammers are using deceptive tactics, including radio and internet ads promising refunds involving ERCs. However, this is usually based on misleading information about eligibility or inaccurate computations. On 3/7/23 the IRS Office of Professional Responsibility sent a special bulletin (OPR Issue 2023-02) to tax professionals summarizing core responsibilities for ERC claims under Circular 230. Agents will increase their scrutiny of ERC claims, and anyone filing for them is reminded that they are responsible for the accuracy of the information found in their returns.
If you believe you have been the victim of this, or any other tax-related scams please contact your CPA. Advisors at De Boer, Baumann & Company are always here to help ensure your filings are accurate!