Discussion on the Employee Retention Credit (ERC) program for Small Businesses and the IRS's concerns

A lot of small businesses have applied for the Employee Retention Credit (ERC) from the IRS and received hundreds of thousands and sometimes even millions of dollars. The IRS recently took the unusual step of announcing it was suspending any new applications for the ERC program because they believe it is filled with small businesses fraudulently applying and many don’t actually qualify for the program.

Here to discuss the new developments in the ERC program is Jay Woods who is the Founder & President of Omega Accounting Solutions.

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