The IRS is making progress in reclaiming funds that were fraudulently obtained through the Employee Retention Credit. Scammers exploited the program's eligibility rules to target small businesses. The agency is now working to identify and retrieve the misappropriated funds.
The IRS is taking steps to recover funds that were wrongly distributed through the Employee Retention Credit (ERC). The ERC was created to assist businesses in retaining employees during pandemic-related closures, but it became a target for fraudulent activity. Scammers took advantage of the program's intricate eligibility criteria by offering assistance to small businesses in applying for the credit, regardless of their eligibility.
The IRS is now working to identify and reclaim the misappropriated funds
IRS Employee Retention Credit Fraud Pandemic Small Businesses
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