by Dave Horwedel, EA

No. The ERC is not cancelled for those who submitted on or before 12/31/2023.  The IRS has paid or is still processing these ERC claims.

Are new claims being accepted?   Proposed legislation ends acceptance of new ERC claims as of 12/31/2023, if the House and Senate agree, and it is signed into law by the President.

What next?

The IRS is still processing and paying ERC claims, but at a slower pace than before.

The IRS is currently encouraging taxpayers to withdraw their claims if they do not qualify. See my video: Should I Withdraw my ERC?

Are you worried about your ERC?

Contact Torchlight Tax for a free consultation at 1-877-758-7797 or info@torchlighttax.com. An ERC Review, or ERC Audit Defense if you have received an IRS ERC Audit Letter, is available.