The IRS is Finally Processing ERC Claims: What You Need to Know
Good News for Businesses: ERC Refunds to Start Rolling Out in September
Kiplinger says that the IRS has good news for companies. Businesses will get money back that was taken away during the pandemic. This is because some people were making fake claims to try to get ahead of the system. The claims are now being checked by the IRS to make sure they are true.
In September, businesses that filed their claims properly will start getting their money back. From September 2023 to January 2024, the IRS will look over the claims. You will get your money back if your claim is valid. In that case, you will have to wait or even get a letter telling you that you won’t get any money.
ERC Claims Update: What to Do If Your Claim is Rejected or Investigated
Many businesses still don’t know what will happen with their cases. Some companies got letters from the IRS telling them they messed up and won’t get any money. People who tried to cheat the system are also being looked into by the IRS. You can send a letter or use the IRS website to try to fix your claim if it is turned down. There’s no way to know when every business will get their money back. Some may not get it for a long time.
Also Read :- Illinois gas taxes go up to 66.5 cents per gallon, making them the second highest in the country after California.