3 from NJ have been charged for allegedly falsely seeking more than $2.9 billion from the IRS by filing false tax forms claiming COVID-related employment tax credits.
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A Matawan man could spend as much as three years in prison and have to pay a steep fine after illegally fast-tracking real estate and construction paperwork, not reporting his company or income to the IRS, and not paying his taxes for a seven year period.
The credit itself is continuing in 2022, but will only come back to families once they file taxes at the beginning of 2023; the same goes for the current tax season and the other half of last year's credit that wasn't paid out monthly.