On September 14th, 2023 the IRS announced a moratorium on the processing of new Employee Retention Claims through at least the end of the year. Please see this article for more information.
Our chairman, Kenneth Dettman, has been on the forefront of ERC. As one of the concerned tax professionals, he has been quoted in both the Wall Street Journal and industry journal Tax Notes Today Federal.
From the August 2, 2023 issue, “ Kenneth Dettman, chimes in on Tax Notes’ recent article discussing the IRS release of generic legal advice memorandum (GLAM) 2023-005. The GLAM, released on July 21, 2023, clarifies the IRS’ position on the intersection of supply chain disruptions and full or partial suspensions of business operations for purposes of the employee retention credit. The GLAM significantly narrows the supply chain position that many ERC mills are encouraging their unsuspecting clients to take. Kenneth is hopeful that CPAs and tax providers will now have the ammunition to rebut aggressive ERC positions and help reduce illegitimate claims.”
The IRS is working to crack down on bogus claims filed by entities that do not exist or do not actually qualify for credits. Various third-party agencies offer to calculate ERC for companies that do not meet the guidelines for qualifying. They then have the business owners file amended returns based on the bogus numbers.
EZ-Advisors uses only accepted business practices. We are registered with the IRS as a recognized preparer. Both our President and CFO’s personal social security numbers are tied to our CAF and PTINs with the IRS. They know exactly who we are and we are fully transparent in all that we do. We sign as the preparers on your amended forms and will defend you in the case of an audit. In fact, your audit shield is provided to you prior to filing with the IRS by way of the Eligibility Report.
Since we represent you and sign your forms prior to submission, we are unable to file any claims that do not meet the IRS requirements for qualifications. Therefore, you can relax in the knowledge that your file has been audited by our team to meet these requirements.
While we welcome stronger scrutiny of the ERC claims, we want to ensure that our clients are made aware of the new delay being caused by the IRS’s response to the increase in tax scams.
Since we do not know what is going to happen with the future of ERC claims, we continue offering Speedy Processing to get your file submitted quickly and placed in queue once normal operations resume.
We will continue to monitor and track each return throughout the process and we want you to know that we will be here for you until the completion of your claim.