Reminder: File Quarterly Form 941 and Colorado Tax Return by October 31
Businesses paying wages—file your IRS Form 941 and Colorado Department of Labor tax return by October 31. Stay compliant to avoid penalties.
IRS Halts Processing of New Claims for Employee Retention Credit to Combat Fraudulent Activities
The IRS has halted processing new claims for the Employee Retention Credit (ERC) until year end due to concerns over increasing ineligible and fraudulent claims. Businesses should seek guidance from trusted tax professionals and review IRS resources to determine their eligibility for the credit.