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COVID-era Tax Credit Under Scrutiny
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ERTC Tax Credit Under Scrutiny
Overview
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COVID-era program, employee retention tax credit, is under scrutiny due to fraud and is set to cost the government $79 billion over 10 years. Congress is debating its termination, with potential tax benefits for low-income families. However, passage is uncertain due to concerns from key senators. The IRS has paused claim processing due to fraud concerns.
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How might the termination of the employee retention tax credit impact businesses and job retention?
What are the broader implications of the government's cost estimates for the tax credit program?
What measures can be taken to prevent fraud in government programs?
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