The IRS has released guidance to help taxpayers understand how the One Big Beautiful Bill Act will impact existing Employee Retention Credit (ERC) claims and refunds.

The IRS on Wednesday issued frequently asked questions addressing employee retention credits under the compliance provisions of the GOP tax law enacted in July.

Because of the increased IRS scrutiny of ERC claims, timing challenges associated with responding to the IRS, and the possibility that the taxpayer will have to file suit in federal court to receive ...