Employers who improperly received tax credits to retain workers during the pandemic have returned more than $225 million to the IRS as part of a voluntary disclosure program that ended on March 22.
Congress created the employee retention tax credit, or ERC, to encourage employee retention. However, the credit spawned a number of fraudulent or ineligible claims. Last September, the IRS issued a moratorium on processing new claims, increased audits and gave employers ways to withdraw pending claims or send back money they already had received
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