Aug. 22, 2024 Businesses should review new signs of incorrect claims for the Employee Retention Credit: Essential businesses during the pandemic that could fully operate and didn’t have a decline in gross receipts. Businesses unable to support how a government order fully or partially suspended business operations. Businesses reporting family members’ wages as qualified wages. Businesses using wages already used for Paycheck Protection Program loan forgiveness. Large employers claiming wages for employees who provided services. Businesses can avoid penalties and interest by resolving incorrect claims through the IRS’s claim withdrawal program or the second ERC Voluntary Disclosure Program. Other ways to check eligibility: ERC Eligibility Checklist ERC Eligibility Frequently Asked Questions
