The IRS has introduced a special withdrawal process to protect small businesses and organizations from scams related to Employee Retention Credit (ERC) claims. This new option allows certain employers to withdraw their ERC claims if they haven’t received a refund yet or are concerned about their accuracy. 

The IRS created this process to help businesses that may have been misled into filing ineligible claims, and it won’t impose penalties or interest for withdrawals. While this offers a way out for well-meaning businesses, those who knowingly filed fraudulent claims are still subject to potential criminal investigation. 

Learn about the official withdrawal process here.