- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
FFCRA and CARES Acts including the PPP
I haven't received anything. Going on 9 months for 2 credits and 1 credit was filed 8 months ago, the remaining were filed in November of 2021. I have been doing a little research lately and found out the IRS is 24 million returns behind (business and personal). In a typical year, they are only behind 1 million at this time. Best case scenario I've heard is that you may receive the credit refund in 12 months. Utterly ridiculous! Promised money by the government to keep people employed while shutdown, and getting VERY close to closing the doors because I haven't received any of the money. I continue to try and call the IRS, but cannot get through. I have even reached out to my state rep, and he claims to be "looking into it", but I don't expect much help there.
Best part I just learned from my accountant is that I will need to claim the ERC refunds on my returns for 2021 even though I haven't received any money. So basically, I need to pay tax on money that I have not seen yet, and really don't know if it actually exists.