The latest fad in snow skiing is uphill skiing. Not cross country skiing, UPHILL SKIING. For a small price, a ski resort will sell you a pass, not to ride the ski lift, but to ski uphill on designated slopes and then turn around and ski down. For those of you who think I am kidding, here is the link to the Aspen website discussing uphill skiing. It is a probably a great workout, but I am a big believer in using gravity, not fighting it. Movie ski chases like this one from a James Bond film would not be the same if 007 and his pursuers were trying to ski uphill and had to stop every 20 feet to catch their breath. It would be similar to the infamous George vs. The Geriatric Bike Gang chase from Seinfeld.
Uphill skiing was brought to mind when I saw on March 7th the IRS released its third warning in six months regarding fraud and abuse in the Employee Retention Credit (ERC) program. We’ve discussed ERC in prior blog posts and IR-2023-40 renews the IRS warning urging people “to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file”.
According to the IRS release,
Although three warnings in six months sends a message that the IRS has been overwhelmed by ERC filings and may be skiing uphill in the battle to combat fraud and abuse in the program, I will repeat my final statement from my prior blog posts: Anyone involved in ERC filings, whether as a taxpayer, promoter or return preparer, should take note and make sure all T’s are crossed and all I’s are dotted.
If you have any tax-related questions please feel free to contact me at firstname.lastname@example.org.