Record Interest Next Year, Record Debt Projected in Just 3 Years – CRFB
IRS asks Congress to scrap employee retention credit amid ‘gold rush’ of bogus claims – Hill
“Blame for the glut of fraudulent requests that are gunking up the agency was placed squarely by Werfel on advertisers and marketers of the credit, whose work promoting it ‘bombarded the airwaves’ and resulted in a ‘gold rush’ for their businesses, he said.
“The employee retention tax credit has already been on the radar of lawmakers and is now being considered for cancellation in the Senate as a way to pay for other tax credits, including other business credits and an expansion of the child tax credit.”