HR 9738
To increase the penalties applicable to persons facilitate fraud with respect to any COVID-related employee retention credit, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill increases penalties for fraud related to the COVID-19 Employee Retention Tax Credit (ERTC). It raises the maximum penalty for individuals and businesses assisting with underreporting tax liability, extends the time for tax authorities to assess penalties, and establishes a deadline of January 31, 2024, for filing ERTC claims. The bill also defines a ‘COVID-ERTC promoter’ and clarifies rules regarding due diligence and information disclosure to prevent fraudulent claims.
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