H.R. 9738 is a bill introduced to increase penalties for those who facilitate fraud involving COVID-related employee retention tax credits. The bill outlines higher penalties for promoters who aid in understating tax liabilities related to these credits and mandates due...
Simple Explanation
H.R. 9738 is a bill that wants to make the rules tougher for people who try to cheat with a special kind of tax credit that businesses got during COVID. It says if someone helps others cheat on these taxes, they can get in big trouble with really big fines to make them stop.