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Cortez Masto, Wyden, Shaheen Lead Colleagues in Urging FTC, IRS to Crack Down on Misleading Tax Credit Ads

Letter

Date: Jan. 19, 2024
Location: Washington, D.C.
Issues: Taxes Federal, State and Local Relations

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"We are writing to request that the Federal Trade Commission (FTC) investigates potential abusive and deceptive advertising practices that have led to the Internal Revenue Service's (IRS) moratorium on processing employee retention tax credits (ERTC)… While this moratorium is meant to give the IRS time to investigate the scams impacting ERTC claimants, we urge the FTC to review whether "unfair or deceptive acts' or violations of advertising laws have occurred.

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"The FTC can and should work in conjunction with the IRS to combat the biggest offenders…and, when necessary, punish them for providing misleading information to claimants. With FTC action, the pervasiveness of predatory advertisements pushing ineligible businesses to file for ERTC can be curbed, reducing the workload of the IRS and protecting these businesses from exposure to penalties."

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