Hey ,

Hope you're doing well! I wanted to share an important update from the IRS that directly relates to those COVID-19 relief programs we all remember.

Get this – the IRS Criminal Investigation division has dug into nearly $9 BILLION in potential fraud connected to the CARES Act. That's an eye-popping number, right?

Key Takeaways:

• Cases are skyrocketing: Over half the cases the IRS is tracking opened within the last year alone.
• Fraudsters are facing serious time: The average prison sentence is 34 months.
• The IRS is stepping up enforcement: Extra funding is helping them pursue these cases.

The bottom line – even though the pandemic might feel like old news, those relief programs are still a hot target for investigation. So, if you engaged with any of these, it's vital to make sure your records are accurate and in order.

Remember, the IRS is still giving you the opportunity to withdraw unprocessed irregular Employee Retention Credit claims. That can save you!!

As always, I'm here to help if you have any questions or need a double-check!

Thanks,

Your favorite accountant and tax professional, 

Folasade,

(202) 618-1295

[email protected] 

Hey Entrepreneur! I am Folasade Ayegbusi. I am an Enrolled Agent, Accountant, Ex-insurance Broker, Speaker, and Small Business Growth Strategist. Additionally, I am a Mother, and Entrepreneur.

I have helped entrepreneurs and small business owners save over $25 million dollars in lost revenue, tax assessments, penalties, and interests over the last 12 months. I am confident that I can assist you with all of your accounting needs.