ERC Credit Withdrawal

While the IRS announced a halt on accepting ERC claims in mid-September, it is now giving those who doubt they have legitimate claims a chance to withdraw before they are audited. To read the full release and how to withdraw go to: IRS ERC Withdrawal.

The ERC Credit claims jumped to the top of the IRS Dirty Dozen tax scams earlier this year. In July, the IRS had decided to focus on ERC claims and conduct more audits on them. By mid-September, the IRS had received approximately 3.6 million claims when it decided to halt claims.

Who can withdraw?

• They made the claim on an adjusted employment return (Forms 941-X, 943-X, 944-X, CT-1X).
• They filed the adjusted return only to claim the ERC, and they made no other adjustments.
• They want to withdraw the entire amount of their ERC claim.
• The IRS has not paid their claim, or the IRS has paid the claim, but they haven’t cashed or deposited the refund check.

For the full details and the steps needed to withdraw, please review: IRS ERC Withdrawal.