RICHFIELD, Ohio - January 24th, 2024 - On January 18, 2024, the Tax Relief for American Families and Workers Act of 2024 received approval from the House Ways and Means Committee. One of the significant changes introduced by this Act is the advancement of the deadline for Employee Retention Credit (ERC) claim submissions to January 31, 2024. This revised, much earlier deadline applies to all ERC claim submissions, including those for the 2021 calendar quarters.
Over the past several years, multiple webinars and communications on this topic have been distributed to GMS clients. GMS is no longer in a position to accept any new ERC claim requests.
All ERC claim requests already received by GMS will be submitted to the IRS by the deadline.
Please note: Any ERC claim that has been processed through GMS and previously submitted to the IRS will remain unaffected by this new deadline.
If you have any questions, please contact your HR Account Manager.