The IRS announced that it will end the moratorium on processing new Employee Retention Credit (ERC) claims. The ERC is a refundable tax credit that was created to help businesses that were impacted by the COVID-19 pandemic. The IRS had previously put a hold on processing new claims due to concerns about fraudulent claims, but will now resume processing them. This is good news for businesses that have been struggling during the pandemic and may be eligible for the ERC.
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