Is the ERC an IRS Audit Waiting to Happen?

When enacted in 2020, the federal Employee Retention Credit (ERC) received little attention. That’s because at the time, if taxpayers received a forgivable Paycheck Protection Program (PPP) loan, they were ineligible for the ERC. In 2021, however, that requirement was lifted — and the ERC became extremely popular.
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Author: Dan Gordon