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Sep 15, 2023

On Sept. 14, 2023, in release IR-2023-169, the IRS suspended the processing of new ERC claims to combat the prevalent fraud occurring. These measures will help to protect small businesses and aim to stop fraud by promoters of ERC mills.

 In this episode, Kris Esposito, Director — Tax Policy & Advocacy, AICPA & CIMA, joins April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, to discuss this important news development and break down the details of the announcement.

What you’ll learn in this episode

  • Highlights of the announcement (1:24)
  • How to find if submitted claims have been processed (3:53)
  • When will recently submitted claims be processed? (4:41)
  • Number of claims currently in the audit process (5:45)
  • Client talking points (6:22)
  • Available resources (7:38)
  • Kris’ final thoughts (9:07)

AICPA resources

IRS resources

Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

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