The Employee Retention Credit (ERC) acted as a lifeline for many nonprofit organizations during challenging times of economic uncertainty. While many nonprofit organizations have rightfully claimed this valuable tax credit, others may find themselves facing uncertainties or concerns about the accuracy of their initial claims.
The IRS has been vocal about, and active in addressing, its concerns about improper ERC claims, placing a moratorium on the processing of new claims effective September 14, 2023, subjecting claims in process to close