The Internal Revenue Service (IRS) announced in IR-2023-169 of September 14, 2023, that they are suspending processing new ERC claims. This moratorium will last at least to the end of 2023.
The IRS will continue to process claims that were present prior to the suspension, but they will be processed slower as the IRS applies increased review process on these returns. Standard processing was supposed to be 90 days and now the IRS says it will be at least 180 days.
The IRS is preparing methods for taxpayers to pay back claims that were ineligible with favorable terms and methods for taxpayers to report promoters that convinced them they were eligible to claim the credit.
If you took the credit when you did not qualify, please call our tax professionals. We will be monitoring the progress of the new procedures as they develop.