In testimony before Congress, IRS Commissioner Daniel Werfel described the employee retention tax credit as having devolved into a costly government boondoggle, as third-party promoters exploited the system, leading many businesses to seek funds they weren't truly eligible for.
As we distanced ourselves from the pandemic, a trend emerged where aggressive marketers misled numerous small businesses into believing they were entitled to substantial tax credits, despite their actual qualifications.
#irs #employee-retention-tax-credit #government-spending #pandemic-relief-programs #tax-credit-misuse
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