IR-2023-132: For employers and tax pros, free IRS webinar to focus on Employee Retention Credit

IRS Newswire July 21, 2023
News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News Home IRS Resources Contact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Where to File IRS Social Media	Issue Number:    IR-2023-132 Inside This Issue For employers and tax pros, free IRS webinar to focus on Employee Retention Credit WASHINGTON — The Internal Revenue Service will hold a free webinar designed to help employers, tax professionals and other interested taxpayers understand how the Employee Retention Credit (ERC) works and how to avoid tax scams and aggressive marketing related to the credit. The IRS continues to warn businesses to not fall for aggressive marketing or scams related to the ERC. There are important details that applicants should be aware of before they take steps to claim this credit. The IRS continues to urge those considering claiming the ERC to be wary of aggressive marketers and unsolicited offers about the ERC. Businesses should first check with their trusted tax professional before submitting an ERC claim. The two-hour webinar will take place on Tuesday, July 25, at 2 p.m. ET. Closed captioning will be available. Topics to be covered include: Overview of the credit; Key areas of ERC compliance; Characteristics of potential ERC fraud; Ways to report ERC fraud; Live question-and-answer session. Tax professionals can earn two continuing education credits for attending this webinar. To register or for more information, visit the Webinars for Tax Practitioners page or the Webinars for Small Businesses page on IRS.gov. The IRS sponsors an ongoing series of free webinars. Though primarily designed for tax professionals and small businesses, anyone is welcome to attend. This year, scams tied to the Employee Retention Credit made the tax agency's Dirty Dozen list of the most egregious tax-related scams. In May, the IRS issued an updated warning on ERC scams. When properly claimed, the ERC is a refundable tax credit designed for businesses that continued paying employees while shut down due to the COVID-19 pandemic or that had a significant decline in gross receipts during the eligibility periods. The credit is not available to individual employees. Unscrupulous promoters make false claims about their company's legitimacy and often don't discuss some key eligibility factors, limitations and income tax implications that affect an employer's tax return. It's important to watch for warning signs such as promoters who say they can quickly determine someone's eligibility without details, and those who charge up-front fees or a fee based on a percentage of the ERC claimed. Anyone who improperly claims the ERC must pay it back, possibly with penalties and interest. For more information about the Employee Retention Credit, visit IRS.gov/ERC. Back to Top         Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

 

---

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

---

This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535