Sometime in September, the IRS will lift the ERC moratorium on claims submitted from September 15, 2023 and January 31, 2024. What does that mean?
First, it means the low risk claims/amendments filed through September 14, 2023 should all be processed by mid-September. Second, it means that any claims/amendments filed through January 31, 2024 should be worked before the end of this year. It should be remembered that once the moratorium was announced on September 13, 2023, all the ERC mills STOPPED processing claims and subsequently laid off a large portion of their workforce or dissolved their ERC service team altogether. That means the intake of claims from mid-September 2023 through end of January 2024 is significantly low relative to prior time periods which should translate into faster claim processing.
While we have administratively processed over 10,000 ERC amendments for service providers, ERC was never our core service offering. FPC continues to monitor actions by the IRS and Congress while providing input to service providers, legislators, and the IRS.
