“The Internal Revenue Service is planning to deny billions of dollars of what it says are improper claims for a popular pandemic-era tax credit, while starting to gradually pay out some claims that have been sitting at the tax agency for more than nine months,” the Wall Street Journal reports.
“The IRS, following a long review of the employee retention tax credit, plans to maintain a moratorium on processing claims filed since mid-September 2023.
The agency, which had said it hoped to resume significant processing of claims in late spring, announced its plans less than an hour before the summer solstice.”