The U.S. IRS has issued a release on five new warning signs of incorrect claims for the Employee Retention Credit (ERC). The new list comes from common issues the IRS compliance teams have seen while analyzing and processing ERC claims. The new items are in addition to seven problem areas the IRS previously highlighted. The new warning signs cover the following areas: Essential businesses during the pandemic that could fully operate and didn't have a decline in gross receipts. Promoters convinced many essential businesses to claim the ERC when, in many instances, essential businesses weren't eligible because their operations weren't...