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The practice of aggressively promoting products to individuals who are not qualified showcases a concerning threat to both businesses and the tax system.

The IRS has decided to put a stop to processing new claims for the rest of the year. This is being done in order to incorporate additional measures that will prevent any future abuse and safeguard businesses against predatory practices. The IRS is also collaborating with the Department of Justice to investigate fraud that has been encouraged by aggressive marketing tactics.

In order to safeguard small business owners from scams, the Internal Revenue Service has taken the proactive step of suspending the processing of new claims for the Employee Retention Credit program until the end of the year. This decision comes in response to growing worries over fraudulent and illegitimate claims flooding the system.

The immediate suspension, starting today and expected to last until at least December, has been mandated by IRS Commissioner Danny Werfel. 31 due to mounting worries within the tax agency, both tax experts and media sources have expressed apprehension that a significant portion of fresh applications for the aging program do not meet the requirements, presenting an escalating financial threat to businesses. This is primarily caused by the undue influence and fraudulent tactics employed by pushy promoters and marketers.

The IRS is still tackling previously submitted claims for the Employee Retention Credit (ERC) that were received before the moratorium. However, due to rising fraudulent activities, they have cautioned that the processing times will be extended. The agency stated on July 26 that it was placing more emphasis on assessing these claims for compliance issues, which includes conducting more thorough audits and investigations into promoters and businesses that submit questionable claims. The IRS made an announcement today stating that numerous criminal cases are currently under investigation, and a significant number of ERC claims have been recommended for further review.

The IRS specifically states that payments for these claims will still be made during the moratorium period, albeit at a reduced speed due to thorough compliance reviews. Due to the enhanced compliance reviews implemented during this period, the processing time for current ERC claims will extend from the usual goal of 90 days to 180 days. However, if the claim undergoes additional review or audit, the processing time could be significantly longer. The IRS might also request further documentation from the taxpayer to verify the validity of the claim.

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