Warning! Employee Retention Credit Scams
The Employee Retention Credit (ERC) is a pandemic-era tax credit that rewards businesses for paying employees during the pandemic where businesses were forced to shut down and revenue was reduced significantly. However, there has been a recent uptick in false promoters of the ERC who prey on businesses seeking this credit. Mills who heavily advertise the credit without being real tax professionals can take advantage of your business and cost you hard-earned money in fake down payments or risk an audit with an incorrectly-filed claim. Stay vigilant! We encourage you to work only with certified tax professionals, and to be aware of unsolicited advertisement of the credit from a non-IRS source. For more information on these scams, check out https://www.irs.gov/newsroom/irs-alerts-businesses-tax-exempt-groups-of-warning-signs-for-misleading-employee-retention-scams-simple-steps-can-avoid-improperly-filing-claims. If you have any questions about the ERC and scam risks, reach out to us at 832-295-3353. We would love to help you.