The IRS has issued a new announcement, granting eligible employers who have filed for an Employee Retention Credit (ERC) the option to retract their submission if they have not yet received their refund. This decision is a response to the numerous of fraudulent ERC schemes that have persisted over the past few years, which you can read more about in our September ERC update. Boyum’s Chris Wittich talks through the withdrawal process in the video below.

To watch the video, please click on the image rather than the gold arrow.