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The federal Employee Retention Tax Credit program is more complicated than — and not nearly as well known — the Paycheck Protection Program. Yet the program, known as ERTC, can be a tremendous resource for businesses and nonprofits that didn’t lay off workers during the pandemic.
But just like with many other government programs, there's a ‘yeah but.’ Part of the $2.2 billion Coronavirus Aid, Relief, and Economic Security Act, the ERTC program, like PPP, has attracted its fair share of fraud — so much so that the IRS has issued multiple warnings about third-party bad actors and their “too good to be true” promises of financial windfalls, which are really deceptive pledges that can lead to audits, fines and other penalties.
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