internal revenue service says 'large bulk' of 1 million pandemic-era credit claims reveal a threat of being improper

by Elwood Hill
Jun 20, 2024

By MAE ANDERSON

Business Writer

NEW YORK-- The Internal Revenue Service said Thursday an evaluation of 1 million claims for the Employee Retention Credit representing $86 billion programs the "huge bulk" are at danger of being inappropriate. About 10% to 20% of the 1 million claims show "clear indications of being incorrect" and 10s of thousands of those will be denied in coming weeks, the IRS stated.

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Elwood Hill

Elwood Hill is an award-winning journalist with more than 18 years' of experience in the industry. Throughout his career, John has worked on a variety of different stories and assignments including national politics, local sports, and international business news. Elwood graduated from Northwestern University with a degree in journalism and immediately began working for Breaking Now News as lead journalist.

internal revenue service says 'large bulk' of 1 million pandemic-era credit claims reveal a threat of being improper

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internal revenue service says 'large bulk' of 1 million pandemic-era credit claims reveal a threat of being improper

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