Fraudulent Covid employee retention tax credit holding up US economy

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I’ve seen the commercials on TV, get free money by claiming your business tax credit, we’ll get a check for you. Equivalent to the ambulance chasing lawyer commercials. Not sure how long this can go on, but $20-30 billion per month flowing into businesses from this program. October 1st is when student loan pause is no more. 2024 economy not looking very good from here.

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Generally, for 2020 tax periods, the deadline is April 15, 2024. For 2021 tax periods, the deadline is April 15, 2025.

h/t CharlieFoxtrot

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