Employee Retention Credit Penalties

Technical topics regarding tax preparation.
#1
Posts:
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:
725
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.
 


Return to Taxation



Who is online

Users browsing this forum: CoastalCPA, fatherof3, golfinz, Google [Bot], Google Adsense [Bot], IDunnoItDepends, Joan TB, JoJoCPA, JR1, ManVsTax, MAPCPA60, missingdonut, NorthCAEA, rkrcpa, sjrcpa, TaxCut, TAXMASTER, taxtothebest, TexasTaxCPA, Wiles, zl28 and 195 guests