MSN.com | Sept. 14, 2023
The Internal Revenue Service is making its biggest moves yet to stop what officials say is a wave of fraudulent and overstated claims for a pandemic-era tax break, including an immediate halt to processing new refund requests.
New claims for the employee retention credit, or ERC, won’t be processed until at least 2024, the IRS is announcing Thursday. The tax agency also plans to give tougher scrutiny to an existing queue of more than 600,000 requests. The IRS will allow employers with pending claims to withdraw them and will let many repay their refunds if they no longer think they qualify.