New this week: The Taxpayer Advocate Service ("TAS") suspends taking on amended return cases due to IRS backlog. Additionally, the Employee Retention Credit (“ERC”) is slated for early termination. Read our latest:
Those of us here at Friedman LLP have received our share of client complaints about their refund claims, set forth in their evidently unprocessed amended returns sent to the IRS months ago. They ask us what is taking the IRS so long and what can be done?
As expected, the Infrastructure Investment and Jobs Act, otherwise known as the Bipartisan Infrastructure Plan (“BIP”), passed the House of Representatives. When signed by President Biden, one of its provisions will cause the early termination of the Employee Retention Credit (“ERC”).