Employee Retention Credit Penalties

Technical topics regarding tax preparation.
#1
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27
Joined:
24-Jul-2018 4:44pm
Location:
Cleveland Ohio
What are the potential penalties if the IRS determines that an employer who claimed the ERC wasn’t eligible?
 

#2
MilesR  
Posts:
724
Joined:
7-Dec-2021 11:10pm
Location:
California
Just shooting from the hip here but probably worst case scenario fraud or gross negligence. Trust Fund Recovery Penalty which can be 100% penalty plus late fees and interest.

To claim the credit you're supposed to document your support for it.
 


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