As reported in the IRS Newswire, Issue Number: IR-2024-203, the IRS has been back to work on the Employee Retention Credit applications since before September 2023, when the agency shut down processing to audit applications for fraudulent filing.

“In recent weeks, the IRS has sent 28,000 disallowance letters to businesses whose claims showed a high risk of being incorrect. The IRS estimates that these disallowances will prevent up to $5 billion in improper payments. Thousands of audits are underway, and 460 criminal cases have been initiated. The IRS has also identified 50,000 valid ERC claims and is quickly moving them into the pipeline for payment processing in the coming weeks. These payments are part of a low-risk group of claims.” (IRS.gov, Newsroom: Newsroom | Internal Revenue Service (irs.gov))

Here’s hoping that your credit is one of the 50,000 valid ERC claims and is coming your way.