Tax professionals testify in favor of Small Businesses scammed with fraudulent ERTC schemes.

Last week congress sustained a hearing about the Employee Retention Tax Credit and all the problems developed from it caused by the fraudulent schemes that promise this benefit to employers who certainly do not qualify. In this hearing, tax professionals and other experts testified in favor of small businesses who, due to their lack of knowledge on this subject, fall into the hands of questionable third parties which in most cases disappear after the credit is received. This problem eventually falls into the hands of tax preparers, that have to prepare the corresponding amendments for their clients and also assist them with the possible audit that comes afterward. Larry Gray, government liaison at the National Association of Tax Professionals, urged Congress to find a solution that brings relief to these cases in which lots of small businesses could potentially face their ruin because of credulity.

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