During COVID, many businesses were given access to the Employee Retention Credit (ERC) to help ease their tax burden. Since then, a business may receive a 6612 letter outlining an audit of the ERC claim. We'll cover the likelihood and reasons for getting audited, the potential penalties, and the statute of limitations on different years the ERC is claimed. 

In particular, a 6612 letter is a formal notice to the business that it is being audited for its Employee Retention Credit (ERC). The following guide looks at what you can expect from a 6612 Letter, what it means, why you have received it, and how to best respond to the situation.